A reorganization plan at Lexmark International will include cutting or transferring some 160 positions from the printer manufacturer’s Lexington headquarters.
Faced with declining revenues in a weak global economy, Lexmark announced in mid-January that it would be implementing a restructuring plan for the company that would affect 375 positions. The company has a global workforce of approximately 13,800.
Of the 375 positions impacted by the restructuring, 250 will be eliminated and another 125 will be transferred to lower-cost countries. The cuts will affect Lexmark’s supply chain and sales support, as well as the information technology and finance divisions; the company’s sales and marketing team is also being reorganized. Details were not announced as to which divisions in Lexington would be affected.
The cuts in Lexington will bring Lexmark’s employment there to approximately 2,840 people, who are primarily involved in administrative issues and research and development for the company; manufacturing of Lexmark products is handled in Mexico, the Philippines and China.
Lexmark is one of Lexington’s largest employers and the only Fortune 500 company to be headquartered in Lexington.A reorganization plan at Lexmark International will include cutting or transferring some 160 positions from the printer manufacturer’s Lexington headquarters.
Faced with declining revenues in a weak global economy, Lexmark announced in mid-January that it would be implementing a restructuring plan for the company that would affect 375 positions. The company has a global workforce of approximately 13,800.
Of the 375 positions impacted by the restructuring, 250 will be eliminated and another 125 will be transferred to lower-cost countries. The cuts will affect Lexmark’s supply chain and sales support, as well as the information technology and finance divisions; the company’s sales and marketing team is also being reorganized. Details were not announced as to which divisions in Lexington would be affected.
The cuts in Lexington will bring Lexmark’s employment there to approximately 2,840 people, who are primarily involved in administrative issues and research and development for the company; manufacturing of Lexmark products is handled in Mexico, the Philippines and China.
Lexmark is one of Lexington’s largest employers and the only Fortune 500 company to be headquartered in Lexington.
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