Polaroid Targets $60 Million in Restructuring Savings
Feb 27, 2001 — CAMBRIDGE, Mass., Feb. 27 -- Polaroid Corp. announced a global restructuring plan designed to reduce overhead, realign the company's resources and accelerate implementation of its digital strategy. Approximately 950 jobs, about 11 percent of the company's global workforce, will be eliminated. The restructuring program, which will take about 12 months, should realize about $60 million in cost savings on an annualized basis. The company expects to record a pre-tax charge of $90 million in the...