Tuesday, August 02, 2005

Polaroid cuts R&D, digital plans - The Boston Globe - Boston.com - Technology - Business

Polaroid cuts R&D, digital plans - The Boston Globe - Boston.com - Technology - Business: "Three months after completing its takeover of Polaroid Corp. in Waltham, Petters Group Worldwide LLC has abandoned the company's digital imaging technology and laid off most of its once-vaunted research and development staff, according to an internal memo and Polaroid employees.
The moves, detailed in a July 11 memo, mean Polaroid is now little more than a brand name, which Petters has affixed to a line of standard consumer electronics, and a shrinking manufacturing operation that produces instant film for Polaroid cameras."
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