9 February 2007 — Rochester (NY): Eastman Kodak will axe 3,000 more jobs this year as part of the implementation of its digital business strategy. to become a digital imaging company focused on consumer photography and commercial printing.
Kodak’s restructuring programme to become a digital imaging company focused on consumer photography and commercial printing was first announced in January 2004.
By August 2006, the program anticipated the elimination of 25,000 to 27,000 positions and charges totaling $3 billion to $3.4 billion.
During Q4, the company had cut 23,400 positions out of the 27,000 job losses anticipated. Kodak now expects that total job losses will be in the range of 28,000 to 30,000, resulting in charges of between $3.6 billion to $3.8 billion.