Thursday, January 29, 2009
The U.S. company Eastman Kodak photographic products Co on Thursday reported an unexpected loss for the fourth quarter and announced it will eliminate up to 4,500 jobs, with a dramatic drop in demand for digital cameras and printing equipment.
Along with this, the firm announced a new round of layoffs worldwide, which aims to reduce costs. The adverse results come one year after completing a restructuring plan that lasted four years and halved its staff, now at about 26,900 people.
The losses in the fourth quarter for continuing operations came to $ 137 million, or 51 cents per share, compared with earnings of $ 215 million, or 75 cents a paper, a year ago.
The company reported preliminary results of which could add some depreciation of assets during the period.
Kodak, which provides commercial printing services, coupled with the manufacturing of digital cameras, photo frames and printers, said that revenue fell 24 percent to 2430 million dollars.
In December, Kodak said its results of 2008 could break the expectations due to the "growing global recession."
The firm announced that it will reduce its global workforce between 3,500 and 4,500 jobs during 2009. That includes layoffs of between 2,000 and 3,000 employees announced in late 2008 for implementation in 2009.
"Over the last three months of the year, experienced dramatic declines in several of our key businesses due to a slowdown in consumer spending and strong demand in Caiuá team," said chief executive Antonio Perez.
Labels: Technology
