DAYTON, OHIO — Eastman Kodak Co., the photography icon now in bankruptcy protection, said Monday it will cut about another 1,000 employees by the end of the year.
According to Kodak spokesman Christopher Veronda, the cuts will have no immediate impact on the Windsor plant.
“We added about 35 positions when the picture kiosk media manufacturing was consolidated in Windsor, with a Rochester operation closing,” Veronda told Windsor Now! on Thursday.
Kodak’s Windsor plant employs about 200 workers who make the kiosk media and color photographic paper, Veronda said.
“No immediate impact on those operations, both part of our personalized imaging business that is for sale,” Veronda said. “But we continue to examine opportunities for operational efficiencies across our businesses.”
As the company has indicated, it is shifting its focus to commercial, packaging and functional printing services and other areas.
The company also announced management changes, saying Philip Faraci, Kodak’s president, and Antoinette McCorvey, chief financial officer, are leaving the company.
Rebecca Roof, a managing director of AlixPartners, which is advising Kodak on its restructuring, will become the company’s CFO on an interim basis, Kodak said.
“Under this leadership structure, we are confident that we will move Kodak forward to conclude the Chapter 11 process and position the Kodak that emerges as a growing, sustainable, profitable company that continues to meet the needs of our customers,” Antonio Perez, Kodak’s chairman and chief executive, said in a statement.
Management changes can be seen as a “fresh start” for a company trying to re-establish itself, said Eric Chaffee, a University of Dayton School of Law associate professor and chair of the school’s Project for Law & Business Ethics.
Such changes can be beneficial, but he added, “At the same time, there is something to be said for allowing experienced people to continue running the company.” And such changes in some cases may represent “panic,” he said.
If job cuts must be made, market observers want them to be made thoughtfully, with an eye toward strengthening the company and making it profitable, Chaffee said. If done right, they can show that a company is trying to “re-imagine” itself as a profitable entity.
It wasn’t immediately clear how this will affect the company’s operations in Miami Valley Research Park in Kettering, Ohio, where Kodak has about 500 employees. A company spokesman could not be immediately reached Monday.
As recently as late last month, a Kodak spokesman told the Dayton Daily News that the Kettering commercial printing operations will play a role in helping lead company out of bankruptcy.
Windsor Now! reporter T.M. Fasano contributed to this story.
Under this leadership structure, we are confident that we will move Kodak forward to conclude the Chapter 11 process and position the Kodak that emerges as a growing, sustainable, profitable company that continues to meet the needs of our customers.
Kodak’s chairman and chief executive