Layoffs: Through a Film Darkly

Through a Film Darkly

While it remains the world's leading maker of photographic equipment, Kodak (est. 1985 sales: $10.6 billion) has been suffering a string of negative developments. In January the company lost a patent-infringement suit brought by Polaroid, and dropped out of the instant-camera market. Last week Kodak announced that weak 1985 earnings will compel it to eliminate 10% of its 129,000 jobs. The company also plans to cut out raises for 130 top executives in 1986 and to reduce overall spending by 5%.

Kodak, which suffered a 27% profit decline during the first nine months of 1985, blamed product-development costs and foreign competition....

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