The ignoring of realities is something those hiding from reality bet on. Lexmark has now lost the bet, and the rumored anti of the new gamble is a 30% reduction in force.
I am unsurprised about Lexmark's massive cuts in personnel—the (DHS) Department of Homeland Security banning of Lexmark's owner Ninestar, the (PRC) People's Republic of China entity. A ban based on the (UFLPA) Uyghurs Forced Labor Prevention Act is something Lexmark could not hide from.
Lexmark's pretending, denials, and attempting distractions regarding its PRC ownership are now being realized. Over the next few quarters, will, Lexmark will fade away as geopolitics consumes them?
I believe it is a safe prediction that Lexmark will be eliminated from the U.S. marketplace. That elimination will also spread through other countries as scrutiny on PRC entities becomes more front and center in all geopolitics.
The lack of leadership from Lexmark independent from Ninestar directions is clear. Since the imposing of the ban in June Lexmark's leadership stood its ground in continuous distractions and deceit regarding Lexmark's ownership and relationship with Ninestar.
That deceit started with the ridiculous statement titled Lexmark Issues Statement on Supply Chain, published on the Lexmark Website on June 22nd, Thirteen days after the DHS-UFLPA Ban was enacted. Please see the picture of the statement link below. Or click the link to read off the Lexmark Website.
Again I believe, Lexmark is obviously taking directions from its majority equity partner, Ninestar, a PRC controlled by the Communist Chinese Party. Lexmark leaders in fear of losing their jobs have become the PRC's puppets.
In the Lexmark statement, they distract from so many realities. The statement starts with deceit by never addressing the (UFLPA) and describing Ninestar as just one of Lexmark's many suppliers. In fact, Ninestar owns the majority of Lexmark's equity.
That fact should be all one needs to be convinced that Lexmark was completely distracting from reality regarding their independence in governing the company outside the chains of the PRC, Ninestar.
Lexmark's leader's refusal to take the control away from the PRC Ninestar should clearly define that Lexmark in fact has zero control over its PRC owner, Ninestar.
Something too many are ignoring is that there's no independently controlled Lexmark! Lexmark became a name in brand only when the PRC Ninestar bought the majority of the Lexmark equity.
This lesson the print industry and other industries within the United States is learning should not be taken lightly, as many other PRC-controlled subsidiaries will find themselves in the same situation as the DHS continues its fight to eliminate from the supply chain PRC entities participating in the Communist Party-approved atrocities of slave and forced labor.
Lexmark, Implementing massive cuts in personnel is a good sign that the Lexmark leaders have accepted that their fantasy alternative reality regarding Ninestar's ownership and control over them has proven to be just that, a fantasy.
It seems now that the time has arrived for the print industry’s actors. Its dealers, OEMs, and the most important actor, its end-user customers, to quickly find a replacement.
A lesson here is, that when leaders distract or sit in silence, they are verify the obvious realities they refuse to address.