Wow! I'm really glad I didn't got to work for them when I had the
chance many years ago . . .
Then again, now I'm doing contract work at Ford . . . >8-O
ScottGee1
On 2/8/07, Tim Hughes <timhughes@xxxxxxxx> wrote:
>
> NEW YORK (MarketWatch) -- Eastman Kodak (EK : Eastman Kodak Co.
>
> 10:35am 02/08/2007
>
> EK26.43, -0.26, -1.0%) Thursday outlined further details of its digital
> business strategy, saying
> it now plans to cut a total of 28,000 to 30,000 jobs, up from a prior
> projection for the layoff of
> 25,000 to 27,000 employees. The company said it eliminated 1,200 jobs in the
> fourth quarter,
> bringing the total-to-date reductions to 23,400 positions. Kodak sees charges
> of between $3.6
> billion and $3.8 billion related to the restructuring program, up from a
> previous view for charges
> totaling $3 billion to $3.4 billion. The company is looking to complete the
> restructuring program
> by the end of 2007. Kodak also said it expects earnings from operations to
> equal between 8% and 9%
> of revenue in 2009 with its target business model yielding gross profit
> margins of 28% to 29%. For
> 2007, the company expects net cash generation of $100 million to $200 million
> on a continuing
> operations basis following restructuring disbursements of about $600 million
> and an aggressive
> introduction plan for inkjet products
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