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Eastman Kodak Announces Major Job Cut

HeadlineNov 12, 1997

Here in the United States, the Eastman Kodak Company, which has spent more than a decade reducing its workforce, said yesterday it will cut another 10,000 jobs, the biggest layoff announcement this year by any American company. Kodak was once known as the “great yellow father” in its hometown of Rochester, New York, because of its paternalistic employment practices. But it has been forced to shrink drastically as competition with Fuji of Japan has hurt its biggest business—film—while futuristic photographic products have not caught on as the company had hoped. The measures are the most drastic yet by George M.C. Fisher, Kodak’s chief executive who, when he was hired in 1993, was praised as a corporate visionary with a plan to restore the company’s growth, but has instead seen profits languish.

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