January 20, 1993 |
Kodak to Lay Off 2,000: Eastman Kodak Co. will lay off about 2,000 workers in a move that, combined with other measures, is expected to save the company more than $200 million in 1993. Most of the layoffs will come at the company's Rochester, N.Y., operations. Kodak said it will also reduce spending on research and development, cut administrative expenses and consolidate equipment manufacturing operations at several sites.
October 19, 1992 |
Kodak Writes Off $140 Million: Eastman Kodak Co. said it is taking a $140-million charge in the third quarter to cover the costs of job eliminations and to close some operations. The company is selling off or closing some non-photographic businesses, cutting its work force and streamlining its overseas operations as part of a restructuring. The charge will reduce earnings 43 cents a share. The company is expected to announce third-quarter results Oct. 27.
February 1, 1995 |
Eastman Kodak Co., struggling with a massive restructuring to focus on its core imaging business, announced a sharp drop in its fourth-quarter earnings Tuesday. Net earnings at the photography giant sank to $18 million, or 5 cents per share, for the fourth quarter, from $201 million, or 61 cents per share, for the year-ago period. The latest results include a $254-million after-tax restructuring charge, largely for cutting 4,000 jobs, most of them in foreign subsidiaries.
January 9, 2001 |
Eastman Kodak Co. said it will reassign most of its 3,500 customer-service employees to various business units to make the service more effective. Customer-service workers not reassigned will be part of a central customer-service unit handling such functions as evaluating satisfaction companywide. It will be run by Frank DiOrio, who also heads service and support at the Consumer Imaging business. Cynthia Martin, president of the former global customer- service unit, resigned.
July 16, 1998 |
Eastman Kodak Co. said Wednesday its profit jumped 23% in the second quarter, better than Wall Street had expected, sparking a rally in the battered stock of the struggling company. Kodak, which has been suffering through a financial slump as it restructures, said it earned $451.4 million, or $1.38 a diluted share, up from $368 million, or $1.11, a year ago. The strength came despite an 8% drop in sales, to $3.54 billion, due partly to stiff competition from archrival Fuji Photo Film Co.