EMCC European Monitoring Centre on Change

Eastman Kodak

Company/Organisation:
Eastman Kodak

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
Number Employed: 25000

Employment Effects

Announcement Date: 30-01-2009
Planned Job Reductions min: 3500
Planned Job Reductions max: 4500
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2009

Additional Information

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.