Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Kodak is the world's largest manufacturer and seller of imaging products. It produces traditional and digital cameras, photographic plates and chemicals, processing and audiovisual equipment, as well as document management products, applications software, printers and other business equipment.
In 2003, Kodak announced a five-year reorganisation plan that envisaged a loss of around 30,000 jobs throughout the world. This restructuring programme is due to the accelerated shift towards the digital market, more lucrative than the classical film market.
The company's restructuring plan was updated in July 2005 and August 2006. In the period between 2004 and 2006, the company closed several plants in Australia, France, Switzerland, the United Kingdom and the United States. At the end of 2006, the company had already dismissed approximately 24,000 workers.
In February 2007, Kodak announced that, by the end of 2007, the total employment reductions would reach 28,000 to 30,000 jobs, according to the provisions included in the 2004 plan.
Eurofound (2003), Eastman Kodak, Internal restructuring in World, factsheet number 59219, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/59219.
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