Kodak to cut 10,000 more jobs
Kodak is to cut up to 10,000 more jobs, while the company makes the tough transition from film to digital, reports the Altus Times. The announcement coincided with reports of a second quarter loss and shares dropped by more than 2%. The new cuts are expected to affect around 7,000 manufacturing jobs, many in Kodak's home town. Eighteen months ago Kodak announced that it would cut around 15,000 jobs over the next three years. Despite the fact that Kodak will add around 8,000 employees, the workforce will eventually number under 50,000 compared to 86,000 people it employed in 1998.