Kodak continues to cut jobs

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Monday, September 10, 2012

Kodak is reshuffling executives and cutting jobs as it tries to emerge from bankruptcy protection.

Eastman Kodak Co. said it cut approximately 2,700 employees worldwide since the beginning of the year, and plans to eliminate roughly 1,000 more by 2012's end.

Kodak's workforce peaked in 1988 at nearly 150,000 employees. But the company couldn't keep up with the shift from digital photo technology over the past decade and with competition from Japanese companies such as Canon.

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