Lexmark says it's planning to lay off 700 of its 10,000 worldwide employees over the next year as part of a restructuring of the printer company.
The Lexington Herald-Leader reports that Lexmark executive Jerry Grasso says the action will work "to align company talent with our strategy to ensure future success."
He says the layoffs are not targeting any specific location.
Grasso says about 2,300 people for Lexmark in Lexington, Kentucky, the same number as last year.
The company has had a tumultuous two years.
In April 2016, the company announced it had agreed to be acquired by an Asian investment consortium. Taking the company private removed Lexmark common stock from the New York Stock Exchange.