Eastman Kodak

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
3,500 - 4,500 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

Eastman Kodak, an American photo products provider, is to cut from 3,500 to 4,500 jobs out of a total 25,000 by the end of 2009. The job losses are attributed to a sharp decline in orders in the fourth quarter of 2008. "The second half of 2008 will go down in history as one of the most challenging periods we have seen in decades," Kodak's chief executive, Antonio Perez, said in a statement. Through 2011, Kodak has said it expects revenue to rise 5% a year, driven by a 10% to 12% annual rise in digital sales.

Sources

  • 30 January 2009: Hospodárske noviny

Citation

Eurofound (2009), Eastman Kodak, Internal restructuring in World, factsheet number 67996, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67996.