Eastman Kodak announced Monday morning it will reduce its workforce by an additional 1,000 employees by the end of 2012 – following the 2,700 jobs already eliminated since the beginning of the year.
The company says the savings generated by the job reductions is approximately $330 million. There is no indication for where the jobs will be cut, or how many job cuts will come in the Rochester area.
The announcement coincides with a new management structure, which will see new leadership for three of Kodak’s businesses.
In a company news release, CEO Antonio Perez signaled that the job cuts and other changes will further help Kodak as the company attempts to emerge from bankruptcy. "Kodak is becoming a more focused and competitively scaled company," Perez said in the release. "We recognize that we must significantly and expeditiously reduce our current cost structure, which is designed for a much larger, more diversified set of businesses."