Kodak, Posting Another Loss, to Lay Off 10,000 Workers
Vikas Bajaj writes in The New York Times:
Eastman Kodak said today it would lay off up to 10,000 more people because its film business was declining much faster than the company had anticipated.
The latest cuts will be in addition to the 15,000 positions it announced plans to eliminate in 2004, and come as the company, which is based in Rochester, posted its third straight quarterly loss today.
About 7,000 of the cuts will come in the manufacturing operations. The company estimates it will save about $800 million a year once the jobs are eliminated by the middle of 2007, but said it would incur $470 million in restructuring costs.
posted by Fergie @ 7/20/2005 10:07:00 AM
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