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Friday, February 9, 2007
Much has changed for Kodak since it’s founders George Eastman and Henry Strong started film-based camera company back in 1881. Now, film isn’t the big thing but rather digital photography. Being keen to future trends, Kodak announced in 2004 that it would restructure itself by, “elimination of 25,000 to 27,000 positions,” saving the company over $3 billion. Well, smile, yesterday it said the final 3,000 would be getting their pink slips and investors could start banking on that $3 billion.
It’s not all bad news. Antonio M. Perez, Chairman and Chief Executive Officer, Eastman Kodak Company, can be found saying on the Kodak site, “Kodak is now a company comprised of numerous leading digital businesses with diverse sources of sales and earnings, coupled with strong intellectual property positions.” Perez further stated, “Our dramatic operational improvements during the past three years have created a solid foundation from which Kodak will become a growing digital company with innovative new products and services, attractive margins and strong cash generation.”
Me? I understand the hardship and I’d rather make cuts to an American icon than see it completely be lost…or bought by a foreign company like Zenith in the ’80s.