Eastman Kodak Co. will be winding down their desktop printer division until next year as they prepare to pull the plug on what for almost half the decade was part of CEO Antonio Perez’s plan to revitalize the company.
The 132-year old company will be spending at least $90 million in the process as it sheds employees and revalues their assets. This move will make the struggling company even smaller as it struggles to emerge from bankruptcy protection. Instead of desktop printers, the company will focus on selling printers and services to companies, centering on their Prosper Press digital printers.
Source: Wall Street Journal