Kodak cuts a further 1,000 jobs The decision comes amid efforts to repay its $700m debts to creditors, in a bid to avoid bankruptcy. The expected savings from Monday's cutback is approximately $330m. Kodak also revealed that chief financial officer Antoinette McCorvey and president Philip Faraci are both leaving the company. Mr Faraci has been credited with having played an important role in helping to transform the group. Antonio Perez, chairman and chief executive, hailed Mr Faraci's "outstanding contribution" to the company. Rebecca Roof, a managing director at AlixPartners, has been named interim CFO in the hope of aiding the final restructuring of the company. Kodak has cut its global workforce by around 2,700 since the beginning of the year in an attempt to focus the company on its commercial packaging and printing business. An analysis of further job cuts is under way. The company, which filed for bankruptcy protection in January, announced plans last month to sell a large share of its consumer document imaging business.