The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
3,500 - 4,500 jobs Number of planned job losses
Announcement Date
30 January 2009
Employment effect (start)
Foreseen end date
31 December 2009
Description
Eastman Kodak, an American photo products provider, is to cut from 3,500 to 4,500 jobs out of a total 25,000 by the end of 2009. The job losses are attributed to a sharp decline in orders in the fourth quarter of 2008. "The second half of 2008 will go down in history as one of the most challenging periods we have seen in decades," Kodak's chief executive, Antonio Perez, said in a statement. Through 2011, Kodak has said it expects revenue to rise 5% a year, driven by a 10% to 12% annual rise in digital sales.
Sources
30 January 2009: Hospodárske noviny
Citation
Eurofound (2009), Eastman Kodak, Internal restructuring in World, factsheet number 67996, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67996.
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