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kbrede
09-10-2012, 12:32 PM
http://news.cnet.com/8301-1001_3-57509485-92/kodak-to-cut-1000-more-jobs-to-save-$330-million/

Hatchetman
09-10-2012, 01:06 PM
Holy cats, Perez will be the last one standing. Never good when the CFO quits.

Ken Nadvornick
09-10-2012, 01:20 PM
Never good when the CFO quits.

Given that a bankrupcy is, by definition, a financial emergency, I would think not.

Ken

Jeff Kubach
09-10-2012, 01:50 PM
Hate to here that. Losing your job ain't fun.

Jeff

Thomas Bertilsson
09-10-2012, 01:57 PM
I feel very sad for the employees at Kodak that are getting their jobs cut.

The interesting aspect of it is that 1,000 employees together make 330,000,000 dollars. That's an average of $ 330,000 per year in compensation and benefits. No wonder their costs are too high.

MattKing
09-10-2012, 02:27 PM
I feel very sad for the employees at Kodak that are getting their jobs cut.

The interesting aspect of it is that 1,000 employees together make 330,000,000 dollars. That's an average of $ 330,000 per year in compensation and benefits. No wonder their costs are too high.
There are probably associated cuts in rent and office/plant expenses and supplies as well.

Trasselblad
09-10-2012, 03:46 PM
I feel very sad for the employees at Kodak that are getting their jobs cut.

The interesting aspect of it is that 1,000 employees together make 330,000,000 dollars. That's an average of $ 330,000 per year in compensation and benefits. No wonder their costs are too high.

Can that figure be right? Not a zero too much or wrongly positioned comma?

If it is correct then yes. Just close the whole thing. Sell off the tools and patents and be done with it. Guess how many high-skilled people (I deliberately don't refer to them as "workers") one of those salaries would get in an emerging economy country? Heck, since moving back to Sweden, I hardly make more than a tenth of that per year!

No tears for Kodak by me from now on...

Prof_Pixel
09-10-2012, 03:57 PM
It is my understanding that the $330,000,000 figure applies to the total of 3,700 employees being cut in 2012 - that comes out to about $89,000 per employee being cut.

Two23
09-10-2012, 04:36 PM
Holy cats, Perez will be the last one standing. Never good when the CFO quits.



They keep firing the wrong guy.


Kent in SD

Sirius Glass
09-10-2012, 05:44 PM
They keep firing the wrong guy.


Kent in SD

You can say that again.

lxdude
09-10-2012, 06:40 PM
Never good when the CFO quits.

Maybe there are no just more Financials to Officer.

lxdude
09-10-2012, 06:45 PM
They keep firing the wrong guy.


Kent in SD

Bizarre, isn't it?

Thomas Bertilsson
09-10-2012, 06:57 PM
They keep firing the wrong guy.

You said it. Isn't it pathetic?

But then again, it just occurred to me: what kind of a CEO would they be likely to find who would be willing to run this ship in its current condition? Of course, it would be a hell of an accomplishment to actually straighten it out and do something creative and worthwhile out of Kodak while they at least still have some assets that are tangible and useful in today's market.

Poisson Du Jour
09-10-2012, 07:18 PM
My brother in law, with a background in economics and financial management, just said to me that "the CFO going is a death knell". Something very obviously hasn't worked out at Kodak now. I would have thought the man in the gilt-lined chair, what's his name — Perez? He should go first? What seems to be the delay? Or is it a case of wise men, as well as monkeys, desert a sinking ship?? :pouty:

Photo Engineer
09-10-2012, 07:30 PM
Generally, as an average, a given office space cost = the office occupant's pay.

PE

Prof_Pixel
09-10-2012, 07:34 PM
Read the full release for a better understanding of what is happening: http://www.kodak.com/ek/US/en/Kodak_Makes_Organizational_Changes_to_Align_with_R estructuring_Plan.htm

BrianShaw
09-10-2012, 07:36 PM
My brother in law, with a background in economics and financial management, just said to me that "the CFO going is a death knell". Something very obviously hasn't worked out at Kodak now. I would have thought the man in the gilt-lined chair, what's his name Perez? He should go first? What seems to be the delay? Or is it a case of wise men, as well as monkeys, desert a sinking ship?? :pouty:

From what I know, your brother-in-law knows what he's talking about. What a sad situation this could blossom into.

lxdude
09-10-2012, 08:50 PM
Imagine being on Kodak's Board of Directors. Perez is Chairman as well as CEO. How much straight talk can there be?

I cannot understand why the man who "led" them into bankruptcy and their shares into near-worthlessness is still there, expecting a bonus for "guiding" them through the bankruptcy! Although the bankruptcy has been very hard on Perez. He had to give up both corporate jets. It's a bitch to have to fly first class commercial on vacations to his hometown in Spain, you know.

To reference a currently popular political topic, Perez can declare "I didn't build this".

lxdude
09-10-2012, 08:53 PM
It's not surprising Faraci went. He was Co-President and Co-Chief Operating Officer. Why the hell would they need two?

lxdude
09-10-2012, 08:58 PM
Generally, as an average, a given office space cost = the office occupant's pay.

PE

They should stick Perez in the basement, and pay him accordingly.