Lexmark to Lay Off Some 700 Members of its Global Workforce

The Lexington Herald-Leader reports that Lexmark International announced on August 8th that it will be implementing a global restructuring program that will entail 700 of its 10,000 worldwide employees being laid off over the next year.

Lexmark’s Jerry Grasso said the action will work “to align company talent with our strategy to ensure future success” and that “we are not talking about any country or location specifically.” Grasso said that about 2,300 people work for Lexmark at its headquarters in Lexington, Kentucky, the same number as last year.

The news follows a tumultuous period for Lexmark, which last year was acquired by China’s Ninestar Corporation and a consortium of investors, recently saw its new CEO resign, and has been the target of several shareholder lawsuits.

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