Lexmark to Cut Jobs as Profit Falls
- Share via
Bloomberg News
Lexmark International Inc. said it will cut as many as 1,600 jobs, or 12% of its work force, as fourth-quarter profit is expected to fall because of slowing sales. “We have never seen a slowdown like this and it’s unrelated to Sept. 11,” Chief Executive Paul Curlander said on a call with analysts and investors.
Shares of Kentucky-based Lexmark fell as much as 13%.
The company will set aside up to $120 million in fourth-quarter costs for the job reductions and to close a plant in Mexico.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
