From Deseret News archives:
Kodak says it will slash up to 3,000 more jobs as it wraps up 4-year overhaul this year
On top of 25,000 to 27,000 layoffs targeted since 2004, Kodak is reducing its payroll even further to accommodate last month's $2.35 billion sale of its health-imaging unit.
"The dream was that we would wake up in 2008 with the digital company that we want to have. We're still right on that track," Antonio Perez, Kodak's chief executive, said at an annual meeting of Kodak analysts and institutional investors.
"We will finish this year. This is done. ... This is the last year of restructuring."
The company that put film cameras into most homes in America acknowledged in September 2003 that its analog businesses were in irreversible decline. It outlined an ambitious strategy to invest in new digital markets dominated by entrenched heavyweights such as Hewlett-Packard Co., Seiko Epson Corp. and Canon Inc.
It is now eliminating 28,000 to 30,000 jobs by year-end, with 23,300 already axed. And the sale of its 111-year-old health unit intended to help fund its bold leap into the inkjet printer market will strip another 8,100 jobs. That will shrink its payroll to around 30,000, its lowest level since the 1930s.
"As one big unit leaves, obviously there's not as much revenue or earnings, or as much support, and that has to be adjusted for," Kodak spokesman Gerard Meuchner
The cuts will bring extra restructuring charges of $400 million to $600 million, or total charges of $3.6 billion to $3.8 billion since 2004.
"By the end of the third quarter, basically my hope is that we're done with all the announcements of restructurings and jobs and everything else and we're just fully concentrated on growing" more than a dozen digital ventures from cameras and online photo services to high-volume printing presses, Perez said in an interview.
Comments
- 3A: Hurricane 24, Park City 19 2:29 a.m.
- GameDay back in the MWC 2:19 a.m.
- Westminster campus briefs 1:49 a.m.
- SUU campus briefs 1:48 a.m.
- Dixie campus briefs 1:47 a.m.
- Real Salt Lake gameday 1:33 a.m.
- 5A: Bingham rolls to title game 12:59 a.m.
- Aggies hope for Spartan cure 12:57 a.m.
- 5A: Miners pull tricks to win 12:56 a.m.
- 5A: Davis runs over Hunter 12:54 a.m.
- Williams leaves, won't play tonight
- Unga family is making its mark
- Selfishness to blame for Jazz woes?
- Study: Divorce likely when wife ill
- ESPN suddenly loves MWC
- Trial begins in toddler death
- Historically, Utes have owned TCU
- Man killed during 3rd I-15 crash
- Two killed in Iron County crash
- 4A: Thunderbirds dynasty lives on
- SLC council OKs gay rights policies
348 - Editorial: Mormons and gay rights
199 - Senators want food tax restored
162 - Will state consider gay rights law?
145 - Letters: Strange breed in Utah
129 - Utes remain silent about BCS
120 - S.L. vote pending on gay protections
113 - Celtics crush Jazz
103 - Pratt pleads not guilty to sex charges
102 - Hatch empathizes with Muslims
88
If you are looking for a bird on the cheap, the following specials from...
Maybe someone out there can help me understand how raising the state...
True. It's not terribly funny and if it has any effect on society, it won't...
What else would you expect to find in a book called "The Founders on Religion"?
Ok not to be rude here, but check the stats, Hinds isnt first in yards and...
t-hinds = best player in utah
Anonymous: Was that English? I though conservatives believed if you are in...
Wow! Glad the Lord kept you safe. Separate comment: That was a horrible...
I have never been to a Utah high school game before as I am not from the...
It would behoove the above commenters to recall that religion, including our...
Only 8000 attendance? BYU had 16,000+ tonight. What is wrong with Ute fans?...
ian you are the 3A MVP If you win next week so just do it that would be nice....


You can be the first to comment on this story.