Kodak restructuring
Executive Summary
Company announces reorganization plan that will lay off 4,500 employees and divest businesses with annual revenues of $ 1.25 bil. in order to raise $ 1 bil. in operating cash in 1990. Kodak did not specify which businesses would be affected. A Kodak spokesman said it is unlikely that recently acquired pharmaceutical subsidiary Sterling Drug, which has over $ 1 bil. in annual revenues, will be sold, but added that it is possible that Sterling might contribute to the reorganization by selling off some of its own subsidiaries.
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