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[OM] Re: Koduck to layoff up to 30000

Subject: [OM] Re: Koduck to layoff up to 30000
From: Tim Randles <tim.randles@xxxxxxxxx>
Date: Thu, 8 Feb 2007 08:49:31 -0800 (PST)
Typical for maximizing profits for shareholders, although I feel sorry for 
these wage-slave people involved, this is a good warning to those that think 
the "corporate" jobs are a retirement benefit. We have seen it all too often in 
this day of "globalization of markets".



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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Cheers.. Timothy-Keith: Randles

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