History in the making…
On Monday, Kodak says they have cut approximately 2,700 employees worldwide since the beginning of the year and plans to eliminate roughly 1,000 more by the end of the year. That is expected to save the company about $330 million. They didn’t elaborate on where those jobs being cut would come from. They also said that President Philip J. Faraci and Chief Financial Officer Antoinette P. McCorvey are leaving the company.
On Friday it was announced that Kodak is postponing indefinitely the auction of its digital imaging patent. Kodak no longer wants to keep rescheduling the date of the auction. They say that the negotiations are continuing but they will also explore the option of keeping the patents and setting up a separate company to make money by licensing those patents.
Graph Expo will be held in Chicago on Oct. 7-10. The Expo has recognized Kodak with 3 “Must See ’Ems” awards. Those are honors given to products that feature innovative and compelling technology for the printing industry. Those products awarded are: “Kodak Nexpress Gold Dry Ink,” “Kodak Insite Prepress Portal System” and “Kodak Flexcel Direct System.”
A new partnership between Kodak and a company called, On Demand, will dramatically increase the number of places for print on demand books. On Demand has a machine called the Espresso Book Machine that will print a book when needed. The partnership will use the over 100,000 Kodak Picture Kiosks to also print books. That could be books that are out of print or self published books. What is odd about this announcement is that Kodak is trying to sell the Kiosks as part of their Personal Imaging division. That division also includes home film and paper business.