Lexmark to cut 275 jobs

 

26 July 2005 – Lexington (KY): Lexmark has announced plans to cut 275 jobs at the same time as posting its Q2 results.

 

Redundancies, which are expected to accrue a pre-tax charge of $26 million, will be made through the first half of 2006 as part of an optimisation of the company’s expense structure.

 

Q2 revenue increased by 3 per cent to $1.283 billion compared to $1.248 billion last year. Net income fell to $79.9 million, or EPS of $0.64, from $136.6 million, or EPS of $1.02, a year earlier.