Lexmark plans about 1,000 layoffs

Lexmark says it's planning to lay off about 1,000 employees - about one-ninth of its global workforce - over the next year in the latest restructuring of the printer company.

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Lexmark Layoffs
Courtesy: MGN Online

LEXINGTON, Ky. (AP) – Lexmark says it’s planning to lay off about 1,000 employees – about one-ninth of its global workforce – over the next year in the latest restructuring of the printer company.

The Kentucky-based company said Wednesday the restructuring is needed to align its workforce with its strategy to ensure the company’s future success.

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It’s the latest downsizing of Lexmark’s workforce. Last year, it announced layoffs of about 700 employees.

Lexmark said Wednesday it would not provide any “location-specific numbers” on where the latest job cuts will occur. The company says it currently has about 9,000 employees globally.

The company was acquired by a consortium of investors in late 2016.