January 29, 2009

Kodak Posts Loss, To Cut Up to 4,500 Jobs

According to CNBC: “Eastman Kodak (NYSE: EK) posted an unexpected quarterly loss and said it would cut up to 4,500 jobs this year after suffering a dramatic decline in demand for digital cameras and commercial printing equipment.”

“The company said on Thursday it would reduce its workforce by between 3,500 and 4,500 positions in 2009. Kodak late in 2008 had earmarked 1,000-1,500 jobs to be cut in 2009, and on Thursday said an additional 2,000 to 3,000 jobs will be cut.”

~News submitted by upthecreek

1 Comment »

  1. Kodak has been bleeding since the introduction of the first digital cameras. A case of incompetent management missing just about every important trend.

    Comment by myphotoscout — January 29, 2009 @ 6:07 pm | Reply

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