NEW YORK — Kodak is reshuffling some executives and continuing to cut jobs as the pioneering photography company tries to emerge from bankruptcy protection.
Eastman Kodak Co. says it's cut approximately 2,700 employees worldwide since the beginning of the year and plans to eliminate roughly 1,000 more by 2012's end. Annual savings from these cuts should reach about $330 million.
The company also says President Philip J. Faraci and Chief Financial Officer Antoinette P. McCorvey are leaving their posts.
After reorganization, Kodak will have three business segments: Digital Printing and Enterprise; Graphics, Entertainment and Commercial Films. A new unit includes two businesses that are for sale, Personalized Imaging and Document Imaging.
Rochester, N.Y.-based Kodak expects to exit bankruptcy some time in 2013.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.