Jan. 22 (Bloomberg) -- Eastman Kodak Co., the world's largest maker of film, said it plans to cut as many as 15,000 jobs, or about 20 percent of the workforce, as earnings fall.

Kodak may incur a charge of between $1.3 billion to $1.7 billion to pay for the cuts over the next three years, according to a statement released on Business Wire.

The Rochester, New York-based company also said earnings in the fourth quarter amounted to $19 million, or 7 cents a share, compared with net income of $113 million, or 39 cents, in the year-earlier period. Sales totaled $3.778 billion, 10 percent higher than a year ago.

``We will continue our effort to reduce costs across all of our operations,'' Chief Executive Officer Daniel Carp said in the statement.

Kodak, which had $2.9 billion of debt as of Sept. 30, is shifting to digital imaging amid a drop in film sales. The company said Sept. 25 it would spend $3 billion through 2006 to expand in areas such as health care and commercial printing.

No, actually that is Clinton's fault!

KD, you are the man! :laugh: :roflol: :laugh:

I thought it was FDR's fault! :wave:

I love how absolutely nothing can be laid at the feet of Dumbya.

Worst terrorist attack during his watch?

Not my fault. Slick Willy's fault.

Labor crumbling. Big Bidness making more profits than ever (record last year). Everyone being shoved into the service class.

Not my fault. Slick Willy's fault.

College tuition through the roof. Student loans shackling multiple generations to indebtedness before they make a dime.

Not my fault. Carter's fault.

Whatever happened to the Republican mantra of "Responsibility"?

The whole point was there were jobs lost. Everyone blames Bush for jobs lost. This example should be laid at the feet of the CEO of Kodak. He/they did not react soon enough to a changing market, and they lost.

joebordenrebel Wrote:I thought it was FDR's fault! :wave:

I love how absolutely nothing can be laid at the feet of Dumbya.

Worst terrorist attack during his watch?

Not my fault. Slick Willy's fault.

Labor crumbling. Big Bidness making more profits than ever (record last year). Everyone being shoved into the service class.

Not my fault. Slick Willy's fault.

College tuition through the roof. Student loans shackling multiple generations to indebtedness before they make a dime.

Not my fault. Carter's fault.

Whatever happened to the Republican mantra of "Responsibility"?

Also not Bush's fault:

Spending more tax-payer money than any other president in our nation's illustrious history. Raising and spending more money than any other president or candidate for president in our nation's illustrious history.

I don't know who's fault this is....probably Hillary, but certainly not Bush! :drink: