Eastman Kodak Announces Wide Revenue Decline
Eastman Kodak Company announced a first-quarter loss from continuing operations of $360 million compared to $114 a year ago and sales fell to $1.48 billion from $2.09 billion from a year before.
In an effort to avoid layoffs, all Kodak employees based in the United States will take one week of unpaid leave this year. Directors and senior managers will have their salaries cut by 10 percent and CEO Antonio Perez will reduce his salary by 15 percent.
Read more