Kodak lays off 40 film workers

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 Post subject: Kodak lays off 40 film workers
Unread postPosted: Tue Dec 03, 2013 1:36 pm 
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Motion picture film (rather than 35mm) related, but still unfortunate.

http://www.democratandchronicle.com/sto ... s/3758641/

Quote:
Eastman Kodak Co. has laid off roughly 40 Rochester workers, most of them employed in film manufacturing.

The layoffs in recent days mark perhaps the first sizable job cuts at the Rochester-based printing company post bankruptcy. Kodak exited its 20-month Chapter 11 bankruptcy in September. And that bankruptcy saw the company make numerous deep cuts in its workforce, as well as sell off a number of businesses, as it worked to get costs under control and to streamline itself.

In a statement, Kodak said Tuesday that it has consistently indicated that as motion picture film volumes continue to decline, "We will continue to make adjustments to keep our scale in line with the decline."

The company ended 2012 with roughly 3,500 employees locally. That number is now far smaller, as 2013 saw Kodak continue to cut costs and also sell its Personalized Imaging and Document Imaging businesses, which employed roughly 700 locally. Kodak said it would have updated local employment numbers after the end of the year.

Kodak stock was trading Tuesday afternoon at $24.56, up $1.36 or 5.9 percent.

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