Kodak shows new business plan
The Eastman Kodak Company has prepared a new business plan and submitted to public scrutiny yesterday. As investors, employees and even the bankruptcy court waited for the company to release the results of its patent sale, the business plan focused on cost cutting measures already put in place. The plan enumerated the layoffs that Kodak has endured since 2003. At that time the Kodak workforce numbered around 64,000 people, now the entire company only employs 17,000. Although retirees are still guaranteed their pensions, there is concern about the overall well being of Kodak, especially if the patent sale fails to meet expectations. “Those of us who have left Kodak I think many of us have fond memories of Kodak. W would all like to see the company succeed not only for its financial health but ours also. My pension depends on their financial health,” says former employee Bruce Leonard. “And I would love to see them climb out of this bankruptcy and be the company that they once were.”
Highs in the mid 70s today with a chance of rain showers. Tonight, a chance of fog and rain, with lows in the upper 50s.