Friday, April 26, 2024

Kodak cuts 425 jobs as film revival treads water

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Kodak has lost $46 million this quarter and will lay off 425 employees, indicating that its film resurgence is still a work in progress. The company chalked up $46 million in losses (compared to a $12 million profit in the same quarter last year), to a slowdown in the printer market and rising cost of aluminum used in its products. The companys Consumer and Film division, which manufactures movie film for its upcoming Super 8 camera and the motion picture industry, also lost money.

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