The printer and software company said Tuesday that it will close its inkjet supply plant in the Philippines by the end of 2015. It is also putting its inkjet technology up for sale.
Lexmark had about 13,300 employees as of Dec. 31. Lexmark has been shifting its focus from consumer inkjet printers, focusing on higher-profit laser printers and supplies for businesses and software services.
It has made a series of acquisitions, including Luxembourg's BDGB Enterprise for about $148 million. This purchase included BDGB's U.S. subsidiary Brainware, which provides data capture software to businesses.
Lexmark International, based in Lexington, Ky., says it will continue to provide support and supplies for its inkjet printers still in use.
The restructuring is the second in less than a year for Lexmark, which said in January it would cut 625 jobs.
Lexmark in July reported second-quarter results that fell short of Wall Street expectations as the economic crisis in Europe pulled down demand.
Lexmark's stock closed Friday at $19.01 per share. It has fallen from over $73 in 2006 and has sunk as low as $16.10 in the past year.