Lexmark to cut 900 jobs, find cheaper labor abroad
Lexmark International, the second-biggest maker of inkjet and laser printers, will cut 900 jobs and move some manufacturing to Mexico and China to reduce costs.The announcement sent the company’s stock up Monday. At midday, Lexmark shares were up $4.50, or 15 percent, to $34.
This could be straight from The Onion. Move the jobs to areas with less regulation and labour laws and the stock shoots up.
Couldn’t they at least try to be a little more inconspicuous? I shudder.
Matthew:
Sadly, shifting your employees to a lesser regulated country is fairly inconspicuous. If Lexmark really wanted to see it’s share price skyrocket, it would have simply cut the staff and not re-hired.