News that Lexmark will lay off hundreds of local workers has Lexington city officials assessing how it will impact tax revenues.
The Lexington-based firm will reduce it's workforce by 350 full-timers and 200 contract employees locally. According to one city official that could result in a $1 million revenue loss.
Mayor Jim Gray said "our hearts go out to this folks who have been hit with this bad news, losing their jobs."
But the mayor says Lexmark remains a competitive electronics business.