Lexmark Eliminating, Transferring Jobs

Another international company with Kentucky ties is cutting jobs.
Lexmark announced this morning it will layoff hundreds of employees.
Printer maker Lexmark fourth quarter results below already weak expectations.

Now, the company has restructuring plans that will impact 375 jobs. Of those 375 jobs, a third will be transferred and the rest will be cut. According to company officials, this will save them $40-million in 2009 and $50-million every year after.

The company's stock is down just 4-percent in the past year after rallying 28-percent in the last month.

The company has 14-thousand employees globally. So far, officials have not said what cities or departments will be impacted by the cuts.