As the company says Kodak, it will take a little longer to get out of bankruptcy than previously predicted. And you will have to take some unplanned steps. For example, stop the release of inkjet printers.
This will require additional cuts - another 200 people will be laid off. The company had previously discontinued digital cameras, pocket camcorders, and digital photo frames. Kodak wants to focus entirely on software, photo printing and some business services. This has already led to the layoff of 2,700 people, although initially it was only about 1,000. Massive layoffs are expected to save about $340 million a year.
The company is now actively working on a restructuring to reduce costs, the ultimate goal of which is to exit from court protection in February 2013.
