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Lexmark to slash 500 jobs after weak earnings
Click:981 Date:2016-07-11 15:23:00 Information Source:
Lexmark International Inc. said Tuesday that it would slash some 500 jobs as revenue fell, a reported a loss of $36.3 million. The company swung to a loss in the latest quarter as the printer maker grapples with its transition to servicing an increasingly digital workplace.
As its printer business declines, Lexmark has acquired 14 companies in the past five years as it shifts its focus to becoming more of a vendor of software and services. The Lexington, Ky.-based company now provides products to sort documents and digitize information from paper, with a recent $1 billion acquisition of Kofax Ltd., which closed in May.