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Posts Tagged ‘Employees’

Kodak will lay off 425 employees after reporting millions in losses

14 Nov

Kodak recently disclosed its third quarter fiscal results, revealing that it had a GAAP net loss of $ 46 million on $ 379 million in revenues during its Q3 2017. This marks a sharp downturn of fortunes for Kodak, which saw $ 12 million in net earnings during the same quarter last year. “An overall print market slowdown and rising aluminum costs have impacted our commercial print business,” explained Kodak CEO Jeff Clarke in a release.

Clarke went on to explain that Kodak is, “taking immediate actions to accelerate cost reduction and reduce investments to sharpen our focus as we continue to actively pursue changes to the Kodak product and divisional portfolio.” According to New York Upstate, “accelerate cost reduction” translates to the Eastman Kodak Company cutting 425 jobs.

The quarter had its upsides for Kodak, however, which reports that its Kodak Sonora Plates saw a 24% growth in Q3 and its Flexcel NX revenue grew 2% year-on-year. Overall, Kodak’s CFO David Bullwinkle said the company anticipates generating cash during Q4 2017. “We plan to improve our cash balance through reducing working capital and through cost actions,” Bullwinkle explained, “including focusing investments in technologies most likely to deliver near-term returns.”

Articles: Digital Photography Review (dpreview.com)

 
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Nokia pulls the plug on the Ozo VR camera, will lay off up to 310 employees

12 Oct

Nokia Technologies has announced that it will be reducing its investments in VR due to “slower-than-expected development of the VR market,” and this means putting an end to its Ozo VR camera. While Nokia will fulfill its commitments to customers who have already purchased the camera, the company explains that it will not develop future versions of Ozo.

Nokia revealed the change of plans in a statement yesterday, in which the company also detailed a business restructuring plan that includes laying off up to 310 employees—a significant percentage of Nokia Technologies’ 1,090 worker base. These layoffs will primarily happen in the US, UK and Finland, and are part of a shift towards “digital health and brand and technology licensing.”

Presently, the Ozo+ camera is still listed as available in Nokia’s online store for $ 25,000 USD.

Press Release

Nokia focuses on patent, brand and technology licensing and targets faster growth in digital health with sharpened strategy for Nokia Technologies

Press Release

  • Increased focus on digital health and brand and technology licensing balanced with optimized investments in virtual reality
  • Planned changes expected to impact Nokia Technologies employees mainly in Finland, the US and the UK
  • Nokia’s successful patent licensing business is not in scope of planned changes

October 10, 2017

Espoo, Finland – Nokia today announced plans to sharpen the focus of Nokia Technologies on digital health, and accelerate growth in that market, while optimizing investments in virtual reality (VR). Nokia Technologies will also focus on growing brand and technology licensing while leaving its successful patent licensing business untouched.

The shift deepens Nokia’s commitment to fully leverage its digital health portfolio acquired through the purchase of Withings in 2016. Through a more focused, more agile digital health business, Nokia aims to have larger impact with consumers and the medical community.

In digital media, the slower-than-expected development of the VR market means that Nokia Technologies plans to reduce investments and focus more on technology licensing opportunities. The unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers.

The potential reductions are expected to affect up to 310 of the roughly 1090 employees in Nokia Technologies, mainly in Finland, the US and the UK. To start the process, Nokia today has invited employee representatives of Nokia Technologies in Finland to cooperation negotiations.

“Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity,” said Gregory Lee, president of Nokia Technologies. “While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected.”

Articles: Digital Photography Review (dpreview.com)

 
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Report: Bowens employees not paid for July, told they must continue to work unpaid

04 Aug

A bombshell of a report on PetaPixel reveals just how sudden last month’s closure of 94-year-old UK photographic lighting company Bowens has been, especially for its employees. An infuriated UK employee reached out to the photography blog to share their story, and the whole workforce of Bowens China has sent an email to the company to complain about how the process is being handled.

The UK employee, who wished to remain anonymous, expressed anger at how the liquidation has been handled, specifically citing issues with pay. According to them, “26 of the most hard working members in the UK […] were in complete shock [on July 14th] to be informed that they will be unpaid for the previous month, and will have to continue to work through a consultation process unpaid.”

The employee claims the UK crew was told they would have to continue working because they are bound by contract. Staff are reportedly considering legal action.

These claims are backed up by an email sent to Bowens and Calumet distributors by the workforce of Bowens China, and acquired by PetaPixel.

The letter claims employees of Bowens Suzhou were “suddenly abandoned” with “no July wages, no social insurance, [and] no updated information since Germany let us stop work [on the] 17th July.” The employees took to the streets and the German embassy to protest what they’re describing as “dishonest betrayal” and “bloody exploitations” by Aurelius and Calumet.

For their part, Calumet did respond to PetaPixel’s request for comment. The company sent a statement in which it re-states the reasons for closing Bowens (“the result of far reaching changes affecting its market”) before addressing the concerns in China, saying:

“As part of the decision to discontinue its operations Bowens consequently also decided to discontinue the manufacturing operations in China […] The liquidation process is handled according to all local laws and requirements and the employees will be informed in due course on next steps.”

You can read Calumet’s full statement on PetaPixel. However, DPReview has reached out to Calumet for comment as well, specifically asking Calumet to address the claim that employees were not paid for July and are contractually bound to continue working without pay.

We will update this post if and when we hear back.

Articles: Digital Photography Review (dpreview.com)

 
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GoPro ‘restructuring’ effort will layoff 200 full-time employees

01 Dec

GoPro has announced plans to restructure the company, saying it will layoff 200 full-time workers, close its entertainment division, reduce its facilities, and cancel open positions. By doing these things, GoPro will reduce its workforce by 15% and will, it anticipates, reduce its non-GAAP operating expenses next year.

GoPro announced the news today as part of its quarterly earnings report. According to the company, GoPro camera sales in the U.S. were up more than 35% this past Black Friday in comparison to the same time period last year. However, its turbulent financial state over the past year has spurred the company to make some big changes.

In addition to shedding 15% of its workforce, GoPro President Tony Bates will step down from his position at the end of 2016. GoPro didn’t provide a reason for his departure. Assuming all goes as planned, GoPro expects to reach non-GAAP profitability next year, with its full 2017 non-GAAP operating expenses dropping to about $ 650 million.

Press release

Solid Holiday Demand In The U.S. For GoPro HERO5

Nov 30, 2016

Week of Black Friday Camera Unit Sales Up 35% YoY in U.S.
Company Restructuring to Reduce Operating Expenses and Improve Efficiency

SAN MATEO, Calif., Nov. 30, 2016 /PRNewswire/ — GoPro Inc. (NASDAQ: GPRO) today announced solid holiday quarter sell-thru in the U.S. for its new HERO5 cameras.

Based on internal data, GoPro’s week of Black Friday camera unit sales were up more than 35% year-over-year at leading U.S. retailers. Thanksgiving through Cyber Monday sales of camera units at GoPro.com were up approximately 33% year-over-year. According to the NPD Group, since the launch on October 2, HERO5 Black has been the best-selling Digital Imaging device in the United States.

HERO5 cameras are available at major US retailers including Amazon, Best Buy, Target and Walmart.

“We have a lot of work to do to finish the quarter and our fiscal year, however our HERO5 cameras have been very well-received by critics and consumers alike,” said Nicholas Woodman, Founder & CEO of GoPro. “Both HERO5 cameras can now auto-offload new content to the cloud and our Quik mobile app makes accessing and editing your footage fun. Its clear consumers are excited about these new features.”

GoPro also announced a company-wide restructuring that will reduce full-year 2017 non-GAAP operating expenses to approximately $ 650 million (GAAP: $ 735 million) and achieve its goal of returning to non-GAAP profitability in 2017. The restructuring includes the closure of its entertainment division, facilities reductions, and the elimination of more than 200 full-time positions plus the cancelation of open positions for a reduction in force of approximately 15 percent.

Additionally, Tony Bates will depart his position as president of the Company at the end of the year. “My time at GoPro has been an incredible experience,” said Tony Bates. “In the past three years, GoPro has seen enormous progress in camera technology, software and international growth. Today GoPro has a solid leadership team deeply focused on its core business and profitability.”

GoPro estimates that it will incur total aggregate charges of approximately $ 24 million to $ 33 million for the restructuring, including approximately $ 13 million to $ 18 million of cash expenditures as a result of the workforce restructuring, substantially all of which are severance costs, and approximately $ 11 million to $ 15 million of non-cash expenditures, consisting primarily of stock-based compensation expense and accelerated depreciation associated with office consolidations. The company expects to recognize most of the restructuring charges in Q4 2016.

“Consumer demand for GoPro is solid and we’ve sharply narrowed our focus to concentrate on our core business,” said Nicholas Woodman. “We are headed into 2017 with a powerful global brand, our best ever products, and a clear roadmap for restored growth and profitability in 2017.”

Articles: Digital Photography Review (dpreview.com)

 
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Sweet Dreams: Nightmare Robots Replace Hotel Employees

11 Aug

[ By Steph in Boutique & Art Hotels & Travel. ]

robot hotel 2

In this edition of ‘Androids Are After Our Jobs,’ a Japanese hotel replaces all of its front desk clerks, porters and other employees with robots, including a hairy nightmare dinosaur wearing a bellboy cap. In fact, should you choose to stay the night here and approach the desk furthest to the right in the lobby, you might question for a moment whether you accidentally ingested some LSD and are mentally recreating a scene from “Fear and Loathing in Las Vegas.”

robot hotel 1

robot hotel fear and loathing

Don’t want to face this guy when you check in? Too bad, because he’s the only one who speaks English. “If you want to check in, push one,” he says, and you type your information into the touch screen and let it snap your photo. The porter robot accompanies you to your room with all of your luggage onboard, and you’re allowed entrance once your identity is verified with facial recognition software. Is that cute little bedside concierge watching you as you sleep, or evaluating your performance in other activities? You’ll never know.

robot hotel 3

robot hotel 6

robot hotel 4

The Henn Na hotel is a real place in Nagasaki, Japan, that aims to slash costs by automating nearly all services with a whole lot of help from technology. Owner Hideo Sawada runs the hotel as part of an amusement park, and says that while the robots may be a tourist draw, they’re not purely gimmicks. Cutting down on staff enables the hotel to rent rooms for as low as $ 80 a night, a rarity in the country.

robot hotel 5

robot hotel 7

robot hotel 8

The technology that makes this actually work is still in progress, so naturally, the robots can’t do nearly as many things as human employees, like calling cabs or giving you directions. You’ll have to figure that stuff out yourself. Mentioned almost as an aside is the creepy fact that the few human employees who are present in the hotel are hidden, watching you silently  through a series of security cameras as you pass through the hallways and common rooms. Please enjoy your stay!

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[ By Steph in Boutique & Art Hotels & Travel. ]

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