Kodak culls 10,000 more jobs

Not a pretty picture

Kodak is axing a further 10,000 workers as it continues to refocus its business to cope in the digital world.

The job cuts announced today are on top of the 15,000 job cuts announced in January 2004 when the company announced its original restructuring plans.

The camera company blamed a "faster-than-expected decline in consumer film sales" and consumers' shift in demand for digital cameras for the job losses.

All the jobs cuts - expected to total between 22,500 and 25,000 - are due to be completed by the middle of 2007.

"As sales of our traditional consumer products and services decline faster than anticipated, we are moving more aggressively to reduce cost," said Antonio Perez, chief exec of Eastman Kodak Company.

Despite the decline he said the firms digital business "continues to make significant progress growing the sales and earnings".

Publishing Q2 results today Kodak racked up losses of $146m against revenues of $3.7bn. ®

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