Bankrupt Eastman Kodak Co. (Pink: EKDKQ), the onetime imaging icon, said it had axed 2,700 employees since filing for bankruptcy in January. About 1,000 more will be gone by the end of the year, it said in a filing with the U.S. Securities and Exchange Commission.
The Rochester, N.Y., company also announced President Philip Faraci and Chief Financial Officer Antointte McCorvey will leave the company. Replacements weren't cited.
Kodak also said that when it exits bankruptcy, it will have have only three divisions: digital printing and enterprise; graphics and entertainment and commercial films.
Shares of Kodak plunged more than 12 percent to only 21 cents in Monday trading, valuing the entire company at only $56.5 million.