WDC/Sandisk Corporation Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : WDC/Sandisk Corporation

WDC 252.66

+4.9%

Jan 27 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: thecalculator who wrote (20427)	6/13/2001 10:33:07 AM
From: Tumbleweed	Read Replies (2) of 60323

Polaroid to Slash Jobs by 25 Percent The last sentence says it all. CAMBRIDGE, Mass. (Reuters) - Polaroid Corp. (NYSE:PRD - news), facing steeper-than-expected declines in its instant imaging business, said on Wednesday it would cut about 2,000 jobs, or 25 percent of its global work force, over the next 18 months. The photographic film and imaging equipment maker also warned that its second quarter operating loss would be far larger than Wall Street analysts have been estimating. Cambridge, Massachusetts-based Polaroid said the restructuring should bring total annual cost savings of between $175 million and $200 million by the end of 2003, and that it will take a series of charges in 2001 and 2002 expected to total between $150 million and $175 million. Besides the job cuts, Polaroid said the restructuring -- the second it has announced this year -- will involve a reduction and reconfiguration of its global operations. Polaroid Chairman Gary DiCamillo said in a statement that the company's core instant business was experiencing steeper declines than projected due to the soft economy and the competing growth of digital imaging.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next