PetaPixel

Bankrupt Kodak Asking for Permission to Pay $13.5M in Bonuses

Kodak is asking the U.S. Bankruptcy Court for permission to pay $13.5 million in bonuses to roughly 300 executives and employees in order to convince them to stay with the company as it struggles to reinvent itself. Though the beleaguered company filed for bankruptcy earlier this year, it believes that the money would help to retain employees that have knowledge and skills that would be difficult to replace if they were to leave. The current headcount at the company stands at around 7,600.

Here’s your mind-boggling fact of the day: the $1 billion Facebook is shelling out to acquire Instagram is enough to purchase Kodak more than 12 times over!

(via USATODAY)


Image credit: Kodak Building in Rochester, NY by Viktor Nagornyy


 
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  • http://twitter.com/IEBAcom Anthony Burokas

    Wow. Great point about Instagram. Did the execs at Facebook not see any value in Kodak’s patent portfolio, or technologies, or research, or history, or name awareness, or is sharing cell phone photos the limits of their 1 billion dollars of imagination.

    You can have gobs of money, but you can’t buy intelligence.

  • http://www.facebook.com/miguelpola Miguel Pola

    Instead of paying out all those bonuses to the people who weren’t able to save their sinking ship, they should use that money to hire new blood to give new life to an already struggling company.  New era, new blood = new Kodak.