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Kodak details job cuts
Film and photography company will cut logistics, R&D and plants making one-time cameras, coatings.
November 12, 2002: 9:26 AM EST

NEW YORK (CNN/Money) - Eastman Kodak Co. Tuesday gave details of its previously announced plans to cut up to 1,700 jobs in a cost-cutting effort.

The photography and film company said that about 550 management and staff positions will be reduced in its logistics and manufacturing operations, while another 500 of the job cuts will come at a plant in Rochester, N.Y., that builds one-time-use cameras, and that 300 jobs will come at a Guadalajara, Mexico, plant that applies light-sensitive coatings to graphic arts and X-ray films. In addition, 150 of the job cuts will come from its research and development staff.

The company announced last month that it planned to cut about 1,300-to-1,700 jobs, or about 2 percent of its worldwide staff, and that it would take charges of $130 million-to-$170 million to cover the expense of the job cuts.

Shares of Kodak (EK: Research, Estimates), a component of the Dow Jones industrial average, lost 62 cents to close at $33.48 in trading Monday.  Top of page




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