As Lexmark comes up with a restructuring plan due to weak sales in the current quarter, the company decided on cutting 625 jobs globally.

Lexmark currently employs about 13,200 employees globally, 3,900 of which are in the U.S. As Lexmark is slowly phasing out its printers for the consumer market, and is now focusing more on the corporate market, which demands more supplies such as ink and toner, the jobs most likely to be cut are those manufacturing consumer supplies. Majority of the job cuts will be oversees, and some in the U.S.

The move will save Lexmark $15 million this year, and will ensure that the company will have about $28 million in cash by 2013. Its Q4 2011 net income fell to $69.3 million from $87.6 million the previous year. Overall revenue was $1.06 billion, down 4%.

Source: based on article by Liana B. Baker, Reuters, www.au.news.yahoo.com, 02/01/12