The troubled former photography giant Kodak this morning announced that it expects to reduce its workforce by approximately an additional 1,000 employees by the end of 2012. The company is making progress in the complex operational restructuring necessary for the separation of its three businesses and the consolidation of its corporate structure. The company has also announced new executive appointments will be tasked with improving its commercial, packaging & functional printing solutions and enterprise services businesses.
“Kodak is becoming a more focused and competitively scaled company,” Antonio M. Perez, Chairman and Chief Executive Officer of Eastman Kodak Company said. “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.”