Lexmark International is planning 1,000 layoffs -- which means the printer company is cutting about one-ninth of its workforce, according to multiple reports.
The printer giant did not disclose specifics -- locations, job roles, etc. -- about the latest layoffs. We've reached out to the firm to see if or how the cuts will impact Lexmark's channel partner team, which is led by Lenovo veteran Sammy Kinlaw.
Updated Monday, July 23, 5:00 p.m. ET: In a phone interview with ChannelE2E, Kinlaw reinforced Lexmark's commitment to partners -- and some forthcoming moves specifically designed for distributors and the SMB market. We'll share a recap of the conversation within the next few days.
Printer Industry Shifts
Layoffs, market turbulence and ownership changes have dominated the printer market in recent years. Lexmark hasn't been immune to the changes. The company restructured in 2015; got acquired by Apex Technology and PAG Asia Capital in 2016; and announced 700 job cuts in 2017.
Lenovo veteran Sammy Kinlaw arrived in early 2018 to help stabilize the business and rally channel partners. We'll share an update on those efforts in the days ahead.
Lexmark rivals have also hit turbulence. Shareholder activists recently forced a CEO change at Xerox, which recently abandoned a merger with Fujifilm. And Ricoh earlier this year apparently trimmed 1,000 management positions in Europe.
On a more positive note, HP Inc.'s $1.05 billion buyout of Samsung's printer business has been mostly drama-free.