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Lexmark plans to restructure its company in the next year, a move which is expected to reduce the its global workforce by an estimated 700 jobs.
"Lexmark is running a worldwide restructuring program to align company talent with our strategy to ensure future success,” said Jerry Grasso, Lexmark senior vice president and chief marketing officer.
The company did not indicate how many layoffs are expected at the company’s headquarters in Lexington.
"We are not talking about any country or location specifically, but the number will be approximately 700 worldwide over the next 12 months, out of our workforce of 10,000,” Grasso said.