From this mornings Democrat and Chronicle:
Eastman Kodak Co. will cut an estimated 1,300 jobs locally as it eliminates 3,500 to 4,500 positions worldwide — as much as 18 percent of its total workforce — in response to plummeting sales.
The Rochester-based photo and imaging company, which has shrunk year after year since the early 1980s, announced this latest round of cuts this morning with the release of its fourth-quarter and year-overall 2008 financial results.
Kodak saw its revenues down 9 percent in 2008 overall, to $9.4 billion, and down 24 percent to $2.4 billion, in the fourth quarter of 2008, compared to the comparable periods in 2007.
Less than 20 years ago Kodak employed SIXTY THOUSAND people in the Rochester area, yesterday it was 9,200, and now down 1, 300. This was a MAJOR company town, one of those cities that a man ( here comes the sexism) could graduate from High School, and get a job with Kodak and support a family. Very Leave It to Beaver sort of thing. Generations depended on this. It made for a wonderful standard of living around here. You can just tell that Rochester used to have a lot of money ( like a mini Pittsburgh). Just think of the cuts in non profits that this has caused, Kodak was VERY generous...
So, as the rest of the country sort of wallows in this downturn, for the people up here, it is old news.
2 comments:
That sucks for Rochester and the people there. But really, probably digital photography has done more to bring down Kodak than even the recession.
Doesn't make it suck any less, though.
oh, 100% , my only point was that this area has been dealing with the hard core economic downturn for quite a while. The Sunbelt horrors are just catching up.
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