Lexmark latest to announce lay-offs

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.