Wednesday, November 01, 2006

Digital spells red ink for Kodak

From BBC News

Struggling US camera company Eastman Kodak has returned its eighth quarterly loss in a row as it battles to fully adapt to the digital age.

However its shares climbed 4% as July-to-September losses narrowed to $37m (£18.4m) against $282m in the previous three months.

Kodak now expects a $400m-$600m loss from its continuing business in 2006, including restructuring costs.

These include the axing of 27,000 jobs - largely in film manufacturing.

Not enough?

Despite the cutbacks - which will see Kodak employ 50,000 people globally, against a peak of 145,800 staff in 1998 - some analysts say not enough is being done.


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