Lexmark Fires 1,700 People As They Quit The Printer Business

Posted Aug 31, 2012

I did not see this coming.  Lexmark is no longer developing consumer inkjet printers.  This will cost 1,700 people their jobs at the company.  The company decided to exit the business in order to refocus on improving profitability.  Now they will be focusing on enterprise options.  Lexmark started to really lose money when companies like HP, Canon, and Xerox started selling printers at almost no profit and made up for it by the sale of ink cartridge refills and other printer supplies.  The low margin model did not work out for Lexmark because they could not create a high volume of sales needed to sustain this model. [Inquisitr]