Showing posts with label Kodak. Show all posts
Showing posts with label Kodak. Show all posts
Kodak bankruptcy cost more jobs
When survival of insolvent Photo pioneer Kodak this year at least 3,700 people by the wayside. Since the beginning of the work force has already shrunk by about 2,700 people. To the company back on track, by the end of 1000 to more employees go as Kodak announced on Monday.
Kodak filed for bankruptcy in January. The pioneers of photography makes the shift to digital is hard to create. Even before the collapse in 2003 of 47,000 jobs have been axed and 13 factories closed down. The company employs in the past year to around 17,000 people.
"We realized that we need to reduce our cost base significantly and quickly," said now CEO Antonio Perez. He wants to reposition itself as a Kodak printing specialists. The roots of the company he cuts radically. Perez separates from photo films, cameras or scanners. The competition, particularly from Asia had proved to be too strong.
So far, the conversion is done, however, with little success, and it ran on high losses. Perez is now trying a new management team to turn the tide. The Swedish Norwegian competent President Philip Faraci and Chief Financial Officer Antoinette McCorvey go. It is followed by Rebecca Roof of the consulting firm AlixPartners, Kodak helps hoped restart.
In the first half, sales fell by more than a quarter to 2 billion U.S. dollars and the loss increased to $ 665 million. In the coming year the company will again but the black. The reboot is to be financed with the sale of the patent-rich arsenal to digital photography, Kodak had influenced in its early days as well. However, the indications were that Kodak would expect significantly less money than the scheduled 2.6 billion U.S. dollars. The auction should have been completed weeks ago, actually.
Kodak was at the end of the 19th Century, the photographic film was invented. The company made with cheap cameras taking pictures then become a mass market and pocketed huge profits, to the advance of digital images thwarted his business model.
Kodak patents: Apple and Google negotiate alliance
The sale of patents of the insolvent Photo pioneer Kodak could take an unusual twist: According to information from the Wall Street Journal, the otherwise hostile smartphone rival Apple and Google to find a bidder coalition. The objective is therefore: The photo patents to buy at a reasonable price and to ensure that they are not used against the corporations.
The alliance would also electronics companies Samsung, LG and HTC join in as well as companies that specialize in the licensing of patents, wrote the newspaper on Thursday, citing people inaugurated. However, the negotiations are still in flux and the output are unclear. In addition, such cooperation could attract the attention of competition watchdogs warned the Wall Street Journal.
Kodak needs the money from the sale of the 1100 patent for the planned new beginning as a printing specialist. Earlier this year the group photo was the value of the package are estimated at up to 2.6 billion dollars (2.1 billion euros). According to previous information, the previous bids but rather indicate a price point of just over $ 500 million. Kodak had postponed the deadline for the end of the auction already indefinitely backwards.
The hope was actually based on a bidding war between the camps of Apple and Google. The two companies are facing each other in the patent war in the mobile industry. Last year they had driven up the price at the auction of patents of bankrupt Nortel network equipment manufacturer up to $ 4.5 billion. In the end, Apple and Microsoft won.
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