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 reducing manufacturing capacity for consumer film products at its plant in Xiamen and in Rochester, New York.
Kodak says none of these actions will impact its 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.
