BANKRUPT IMAGING FIRM Kodak has announced plans to let go a further 1,000 employees to save $330m.
Struggling Eastman Kodak, which announced plans to leave the digital photo and video business back in February, revealed today that it will slash a further 1,000 jobs to save more money. The company has already reduced its workforce by 2,700 since the beginning of 2012.
Kodak CEO Antonio Perez said, "Kodak is becoming a more focused and competitively scaled company.
"We recognize that we must significantly and expeditiously reduce our current cost structure, which is designed for a much larger, more diversified set of businesses.
"We are reorganizing our senior management team, an action that will help accelerate the creation of a sustainable cost structure for operating our business for the benefit of our customers and position our Personalized Imaging and Document Imaging businesses for successful sales."
The company also revealed a staffing shuffle today, including the departure of CFO Antoinette McCorvey and COO Philip Farci. Rebecca Roff will replace McCorvey.
"We wish Phil Faraci well. Kodak and I both owe Phil a debt of gratitude for his outstanding contribution as Kodak's Chief Operating Officer," said Perez.
"I also want to express my appreciation to Ann McCorvey for the substantial contributions she has made to Kodak. She is a skilled and dedicated senior executive, and as CFO, she played an important role in putting our company on the path to emergence."
Kodak, which is in the process of auctioning about 1,000 patents with interest from Apple and Google, needs to raise nearly $700 million to repay its creditors and exit bankruptcy. µ
Another fine mesh
But, er, it'll be available in pink
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