This announcement was made to employees in a memo sent Monday. News 8 obtained a copy of that memo. CEO Antonio Perez told employees that Kodak is in the second phase of bankruptcy, which includes reorganization at the executive level. There will be three business lines: Consumer, Digital Printing and Enterprise, and Graphics/Entertainment/Commercial Films. One manager will lead each group and report directly to Perez.
Laura Quatela, President of Eastman Kodak will oversee the Consumer Group. Phil Faraci, President of Eastman Kodak will oversee the Digital Printing and Enterprise Group. The Graphics, Entertainment, & Commercial Films Group will be led by Brad Kruchten, Senior Vice President of Eastman Kodak.
Perez said that the three leaders will be focused on their businesses and leading their teams to achieve "excellence in operations, customer delivery, and productivity up to and through emergence."
"This new model ensures that I have the clearest possible connection to our senior leadership, whether they are focused on our business groups, functions, or our regional organizations. It it also the first of several step to flatten our organizational structure to better position the company to operate with a leaner cost structure as we approach emergence," wrote Perez.
The next steps outlined for the company are for Faraci, Quatela, and Kruchten along with Regional Marketing Managers to work with their teams to find ways to "simplify the organizational structure supporting our product lines to produce a leaner cost model for businesses going forward," wrote Perez.
On the heels of this restructuring, Kodak is also planning to lay off more workers at their research labs and downtown headquarters. A total of 7 employees will lose their jobs. Most of those employees will be laid off in September.