Kodak has announced that it plans to cut 10,000 more jobs than previously planned as it navigates a tough transition from film to digital photography. The company had earlier targeted 12,000 to 15,000 job cuts by 2007, but now plans to cut 22,500 to 25,000 jobs. Kodak has been losing money steadily as consumers look to digital cameras for their pictures. Analysts say Kodak has been slow to get into digital photography and, without a swift conversion, risks fading into history.
See "Kodak Plans to Cut Up to 10,000 More Jobs", Associated Press, The New York Times, July 19, 2005