Kodak global 1/3 Chinese staff layoffs could not escape

Consumer film poor sales

As Kodak's business to digital field to the part of the adjustment strategy, Kodak yesterday issued a new large layoffs, will once again lay off 10000 employees, the company in 2007 the total number of layoffs increased to 22 thousand and 500 to 25 thousand people, accounting for the total number of 1/3 employees of the company at present.

Yesterday at Kodak (Chinese) company, about Chinese area employees will be affected by the extent of the problem, Kodak (Chinese) company did not directly answer, but said, "the plan is in the global scope."

The layoffs in 2004 in January, the company announced the initial adjustment plan to lay off 15000 people on the basis of the decision to slash staff again.

Eastman, chief executive officer and President of Kodak, said that due to the consumption of the film market, the volume of sales is expected to decline faster than the, resulting in a large number of employees lost their jobs. "With our traditional civil products and services declining at a faster rate than we expected, we are cutting costs more strongly."

Kodak announced the second quarter of this year sales growth of 6%, a loss of 51 cents per share; excluding non operating items of the profit per share of 53 cents; 43% digital business sales revenue growth, the traditional business sales revenue fell 15%. Kodak said that the main cause of net loss includes the previously announced acquisition of Kodak traditional business infrastructure restructuring, related research and development costs are not completed and company related investment in asset impairment costs of Lucky Film Limited by Share Ltd.