Facing a drop in third quarter profits, Lexmark announced it was cutting 825 jobs this month. The job cuts span several areas of the company’s business. Lexmark expects to save $70 million next year and over $100 million in 2011 as a result of the cuts.
Demand is rising for Lexmark products, but restructuring costs have forced profits down. In premarket trading, shares of Lexmark were up $2.08 following the news of the job cuts.
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