Lexmark to Quit Inkjet Printer Business
Printer company Lexmark is looking to get out of the inkjet printer business.
The company said Tuesday that it will sack 1,700 employees worldwide and shutter a factory in the Philippines, as it explores selling off its inkjet printer operations. The move is expected to save Lexmark $95 million annually and free up more resources, as it focuses its efforts on higher value managed laser imaging services.
Shares in the company are trading up nearly 13 percent on the announcement.
