EMCC European Monitoring Centre on Change

Kodak

Company/Organisation:
Kodak

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of chemicals and chemical products
20.59 - Manufacture of other chemical products n.e.c.
Number Employed: 75000
Group: Kodak

Employment Effects

Announcement Date: 24-07-2003
Planned Job Reductions min: 4500
Planned Job Reductions max: 6000
Type of Restructuring: Internal restructuring

Additional Information

Kodak announced a world-wide restructuring plan affecting between 4,500 and 6,000 jobs, which represent between 6% and 9% of their total work force. The measure is due to an huge loss for the second quarter of 61%, representing 112 millions of dollars. Any other reason is the huge competition with the digital technology.