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Kodak reeling from declining film sales

Alisa Roth May 4, 2007

SCOTT JAGOW: Eastman Kodak is finding it hard to get out of the photo business. The company posted a lost in the first quarter, as it cuts jobs and closes factories. Alisa Roth reports.

ALISA ROTH: The bad news is Kodak lost more than $150 million and sales fell by more than 7 percent in the first quarter. The good news? That’s much less than it lost in the first quarter last year.

Kodak’s trying to ease its way out of the film production business. The company’s trying to cut its work force in half. About 30,000 employees will lose their jobs when it’s all over.

That’s proving to be a costly venture — so far, the company’s cut 23,000 jobs, at a cost of $2.7 billion.

In New York, I’m Alisa Roth for Marketplace.

SCOTT JAGOW: Kodak also just introduced a new line of inkjet printers. These are the opposite of most printers — the printer is expensive, the cartridges are cheap.

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