10 December 2004 – Toronto (CAN): Eastman Kodak is to close its Toronto manufacturing plant at the end of June 2005, as part of a global cost-cutting plan.
Around 360 workers will lose their jobs as a result of the move, the company has announced.
Kodak is in the midst of a three-year cost-cutting plan, in response to the increasing popularity of digital cameras. During this time it aims to reduce its workforce worldwide by between 12,000 and 15,000, and its facilities by one-third – actions which the company expects will incur $105 million in charges.
