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Showing posts from January, 2012

Kodak to file for chapter 11 bankruptcy

Eastman had made photography popular in the United States in 1888 with the slogan "you press the button, we do the rest". In 1900, his 'Brownie' camera made it really affordable. Australia Kodak Limited, a joint venture with the two Australians, later became Kodak (Australasia) Ltd. It was an early expression of the Australian love of new technology.The Chapter 11 filing could come as soon as this month or early February, the newspaper said.Despite having made Huge sacrifices to make the company “competitive” and profitable, 600 production workers will be shunted out of their jobs in November. More jobs will go when the company’s wholesale photo processing lab shuts on October 22, with services being outsourced to another company.The closure of the Coburg plant concludes almost two decades of ruthless restructuring, during which both management and the unions assured workers that if they allowed downsizing and cuts to working conditions. Eastman Kodak (EK.N) is prepa…