Kodak has posted a 2nd quarter loss and subsequently announced 10,000 more job cuts, in addition to the already planned 12,000 to 15,000 losses. This now means that between 22,000 and 25,000 Kodak employees, largely from the manufacturing division, will have lost their jobs by the middle of 2007. This is all summed up by Antonio Perez, Kodak’s president and chief executive officer “In 24 months, as a result of the actions announced today, we will … essentially complete the transition to our digital business model”. Kodak reported a net loss of 51 cents a share, or $146 million, for April, May and June of this year.

Website: Rochester Democrat and Chronicle - Kodak cutting 10,000 more jobs; posts second quarter loss