Bankrupt Eastman Kodak Co., the onetime blue chip wunderkind, will shed an additional 1,000 jobs by the end of the year as it ditches chunks of its business.
Already this year, the Rochester, N.Y., company has cut 2,700 positions. The newest swipe of the axe will help Kodak save $330 million, it said Monday.
“Kodak is becoming a more focused and competitively scaled company,” said Chief Executive Antonio M. Perez in a statement. “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.”
Last month, the company said it is selling its personalized imaging and document imaging businesses, which include “traditional photographic paper and still camera film products” as well as 105,000 photo-printing kiosks, souvenir event photos and the document-scanning branch.