Lexmark latest to announce lay-offs

As revised forecast and restructuring revealed

Lexmark latest to announce lay-offs
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13 January 2009 15:04 GMT / By Amy-Mae Elliott

Lexmark is the latest technology company to announce lay-offs, as the Kentucky-based company admits problems in the current economic climate.

Lexmark says that the "weakening global economic environment" has impacted its fourth quarter 2008 operating performance, which will be lower than expected.

The company currently expects its fourth quarter revenue to be 17% less than a year ago due to "lower laser and inkjet hardware unit sales and currency rate shifts during the quarter".

Lexmark has announced a "Restructuring Plan" for 2009 that is expected to "impact" about 375 positions and predicts a gloomy first quarter of the year too.

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Comments

  • Lexmark is on its way down. Management has no clue on how to run the company. They are laying off qualified people and some stupids who make 6 figure salaries are managing work. It is better for them to sell the company to Lenovo Posted by John Caning, USA

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