Kodak Goes For Digital Success, Cuts More Jobs

Eastman Kodak is accelerating its previously announced business model, which it is building in hopes of achieving long-term success in digital markets. "Kodak is a company with product portfolios that are proceeding on two very different tracks," said President and CEO Antonio M. Perez. "As sales of our traditional consumer products and services decline faster than anticipated, we are moving more aggressively to reduce cost. At the same time, we continue to make significant progress growing the sales and earnings of our digital portfolio. Second-quarter digital sales, for example, increased 43%, and we made significant progress in improving our digital earnings."