Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

« The dress » is back but why don’t we see black and blue ?

Read more

REPORTERS

Chad's war against Boko Haram

Read more

THE WORLD THIS WEEK

Rape in India, Russia after Nemtsov, France scolded for Smacking

Read more

THE WORLD THIS WEEK

Netanyahu Warns Congress against Iran; Clinton's Got Mail

Read more

#THE 51%

Gender equality in the classroom: A delicate balancing act

Read more

FRANCE IN FOCUS

Inside a school for imams

Read more

#TECH 24

MWC 2015: New smartphones unveiled

Read more

IN THE PAPERS

Paris, world tattoo capital

Read more

IN THE PAPERS

'Fair play won't stop Putin - it's time for sterner stuff'

Read more

Business

Kodak to reduce workforce after poor sales

Latest update : 2009-01-30

Following a loss of 133 million dollars in the fourth quarter of 2008, the US photography giant Kodak announced that it will have to slash up to 4,500 jobs to face the global recession, representing over 14 % of its global workforce.

AFP - American photography pioneer Eastman Kodak announced Thursday it expected to cut up to 4,500 jobs after "dramatic" decline in business amid a deepening recession.
  
The cuts came amid an estimated loss of 133 million dollars by the company in the fourth quarter of 2008.
  
Kodak said in a statement that it expected to reduce its worldwide employment "by between 3,500 and 4,500 positions during 2009, approximately 14 to 18 percent of its total workforce."
  
"These reductions, which include executive positions, have commenced and the company expects to implement the majority of the actions associated with this program in the first half of 2009," it said.
  
"The second half of 2008 will go down in history as one of the most challenging periods we have seen in decades," Kodak chief executive Antonio Perez said.
  
During the last three months of 2008, Kodak "experienced dramatic declines in several of our key businesses due to the slowdown in consumer spending and significantly reduced demand for capital equipment," he said.
  
"We are taking the necessary steps to address this environment and to position Kodak to recapture the momentum when the recovery occurs."

Date created : 2009-01-29

COMMENT(S)