Kodak culls 10,000 more jobs
PrintNot a pretty picture
Posted in Financial News, 20th July 2005 15:28 GMT
Free whitepaper – Blade learning lab and technical community
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. ®
Related stories
Kodak axes 180 UK jobs
Kodak lets Carp loose, hooks new CEO
Digital camera market 'running out of steam'
Digital camera sales slow
O2 and Kodak team for online piccies
Digital cameras redesign the photographic process
Kodak blames digital cameras for jobs cull
Free whitepaper – PowerEdge M1000e, M600 and M605 spec sheet
What Exchange can't do - and Dell can
Enabling the Agile Data Center
Hosted CRM Can Be Your Secret Weapon to Success!
Market Primer: ERP Systems
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter