On top of 25,000 to 27,000 layoffs targeted since 2004, Kodak is reducing its payroll even further to accommodate last month's $2.35 billion sale of its health-imaging unit
So about 30,000 in three years - the size of a whole town.
This is a sad example of a company that adopted too late to a disruptive technology: digital imaging. Kodak was fat and happy making huge margins off film and paper, but then the earth moved beneath them. By the time they realized it, they did too little too late.
The article claims that Kodak "created the world's first digital camera" and has over 1,000 patents in the area,. That is little consolation to the stock holders who have lost billions of dollars of assets. Kodak may have been ahead in the lab, but the business people just ignored it as they raked in tons of cash out of the old business, allowing others to carve out huge pieces of the new market.