Lexmark, printer maker and designer of that radically redesigned Genesis printer, is reorganizing. The company is putting its inkjet tech up for sale, and also cutting some 1,100 jobs related to the manufacturing of inkjet printers, 13 percent of its workforce) and will shut down its plant in the Philippines by 2015. Another 600 jobs will be lost to restructuring. The move is consistent with the company's gradual shift in focus to laser printers which return a higher profit. The company hopes to save save some $95 million a year as a result of these changes.
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