Eastman Kodak Company announced actions to consolidate its worldwide manufacturing operations as part of its ongoing program to rapidly adjust to the accelerating decline in demand for consumer film and photographic paper.
Pursuant to a restructuring program originally announced in January 2004 and expanded last month, and consistent with marketplace demand, current actions include:
None of these actions will impact Kodak’s ability to continue serving worldwide customers with traditional film and paper products. Together, these actions will result in a reduction in employment of about 900 positions, more than half in Rochester. Charges totaling about $153 million, primarily related to asset write-offs and separation benefits, will be taken related to the actions.
“These actions are regrettable because they impact our Kodak people whose performance has been outstanding, but they are necessary in light of the accelerated declines in consumer film and paper,” said Daniel T. Meek, director of Global Manufacturing & Logistics. “We will continue to move aggressively to competitively position our operations and adjust our manufacturing footprint and capacity for the marketplace realities.”
Meek noted that Kodak is committed to strengthening its leadership position in the three segments of the imaging market: consumer, health and graphic communications, both traditional and digital.
