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Kodak Cutting Staff by Up to 4,000; Posts Q4 Loss

in News on January 29, 2009 at 8:29 am PT

Kodak this morning said it will cut its staff by 3,500-4,000 jobs in 2009, reducing its workforce by 14-18 percent. The company also said it will pay no executive bonuses in 2008 and that it will not issue pay increases this year. The company is struggling enough, in fact, to have opened talks with lenders to assure continued access to its revolving credit line.