Kodak sees restructuring complete by end of 2007
93451
Eastman Kodak Co.  said on Thursday it expected to complete a three-year restructuring program by the end of 2007 that will help it sustain profitability.
169
(InfoWorld) - As part of a four-year turnaround plan, Eastman KodakÂ expects to cut 5,000 to 7,000 jobs by the end of 2007 in an effort to reduce its administrative overhead and boost profits from digital photography instead of standard film, the company told investors Thursday. Kodak leaders had already cut 1,200 jobs during the fourth quarter of 2006, bringing the total jobs lost to 23,400 since the company first announced its restructuring plan in January 2004. By the end of this year, that total could reach 30,000, nearly half of the company's size in 2003. The company has already cut excess jobs from its manufacturing division, and will trim the remaining jobs from its selling, general and administrative unit, Kodak Chief Financial Officer Frank Sklarsky said in a release. The move will reduce administrative overhead from Kodak's current level of 18 percent of revenue to just 14 percent to 15 percent. The company has also slashed costs by announcing Jan. 10 it would sell its 8,100-person medical imaging and health-care IT division to the Canadian firm OnexÂ for $2.55 billion. That deal is expected to close in the first half of 2007. On the revenue side of its books, Kodak hopes to boost income through new products like its consumer inkjet printers, image sensors and picture kiosks, said CEO Antonio Perez. The company will also draw $250 million in revenue by licensing its intellectual-property patents this year, he said. KodakÂ introduced a line of inkjet printersÂ this week to compete with Hewlett-Packard and Xerox. Kodak will target consumers and home-office users by selling replacement ink cartridges at about half the price of its competitors -- just $9.99 for black ink and $14.99 for five-color ink. Likewise, Kodak will sell a range of printers priced below $200. Also on Thursday, Kodak announced it would partner with MozillaÂ to improve Kodak's online photo gallery by allowing users to access it from Mozilla's Firefox Web browser. The companies hope to generate more income from the 83 million U.S. users who are predicted to upload, share and print their photographs by 2010. Users can now download the new tool. Â
510167
The takeover of British media giant Reuters by Canadian rival Thomson Corp will conclude in the second quarter of 2008, the pair said in a statement on Monday.
265004
Eastman Kodak Co.  said on Thursday it expected to cut up to 3,000 additional jobs and complete a three-year restructuring program by the end of 2007 that it says will help sustain profitability.
81471
LONDON : Eastman Kodak said it would axe 870 job cuts across Britain and France as part of a global cull blamed on the increasing popularity of digital photography.
467316
As part of a four-year turnaround plan, Eastman KodakÂ expects to cut 5,000 to 7,000 jobs by the end of 2007 in an effort to reduce its administrative overhead and boost profits from digital photography instead of standard film, the company told investors Thursday.
710289
Eastman Kodak Co.  said Wednesday it will close three photofinishing labs in Spain and Norway and downsize another in Switzerland, the latest steps in its plan to cut investment in traditional film products.
718099
Photographic equipment manufacturer Kodak has blamed the rise of digital photography for 600 job losses and a factory closure. Kodak said declining demand for traditional camera film had forced it to close
225517
Eastman Kodak Co.  said on Thursday it expected to complete a three-year restructuring program by the end of 2007, including additional job cuts, that will help it sustain profitability.
341513
NEW YORK, September 16 (New Ratings) - International Business Machines Corporation (IBM.NYS) and Eastman Kodak Company (EK) have agreed to jointly develop and manufacture image sensors for mass-market consumer products, such as digital still cameras and
219436
ROCHESTER, NYâEastman Kodak Co. and International Business Machines Corp. said yesterday they have agreed to develop and make image sensors for digital still cameras and camera phones.
714058
Eastman Kodak Co. EK.N, the world's  top maker of photographic film, said Wednesday its  third-quarter profit rose, helped by the sale of one of its  businesses and growth in its digital business, but declines in  its traditional film segment held back revenue.
299162
Eastman Kodak Co. says it&#39;s agreed to buy the Imaging business of National Semiconductor Corp., which develops and manufactures complimentary metal oxide semiconductor image sensor devices.
232207
Eastman Kodak Co.  said on  Thursday it expected to cut up to 3,000 additional jobs and  complete a three-year restructuring program by the end of 2007  that it says will help sustain profitability.
427487
Eastman Kodak Co., the world&#39;s biggest photographic company, said it will shed about 870 jobs in Europe to concentrate on the digital market as demand for film declines.
365304
Eastman Kodak Co., in the midst of its strengthening its position in digital imaging, said Wednesday it expects sales of digital products and services to increase by about 36 per cent between 2003 and 2007.
49076
Eastman Kodak Co  and Matsushita Electric Industrial Co Ltd (MEI)  agreed to settle their patent infringement claims, Kodak said in a regulatory filing on Friday.