Kodak has unveiled plans to retrench and lose 1,000 more employees to save $330 million.
In February, the struggling bankrupt company revealed departure plans from its digital imaging business, and now it announces cutting another 1,000 jobs to lessen its payroll.
Eastman Kodak has cut down its workforce by as much as 2,700 people since the year started.
“Kodak is becoming a more focused and competitively scaled company,” said Antonio Perez, CEO of Eastman Kodak.
“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 announced a reshuffling of its executives, which saw the departure of CFO Antoinette McCorvey – replaced by Rebecca Roff – and COO Philip Farci.
“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.”
Currently in the works of auctioning around 1,000 patents, Kodak needs about $700 million to refund creditors and leave bankruptcy status.
Image: Viktor Nagornyy via Flickr (CC)