Lexmark to slash 550 jobs

Lexington, Ky.-based Lexmark International Inc. announced yesterday it would cut 550 jobs, or roughly 4 percent of its global workforce.

The print maker is reportedly struggling to adjust as companies cut costs and consumers shift to mobile devices from personal computers.

In October, the company hired Goldman Sachs Inc. to advise on its options, including a sale.

The job cuts will be made over the next 12 months.

Read more from Reuters.