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Camera Makers Hit Hard Worldwide

04 February 2009
Published in Industry News

Alongside stock agencies, imaging companies are also facing large cuts in profits and jobs. Kodak, Sony and Canon have all reported losses in earnings, forcing them to lay off workers.

Eastman Kodak announced that it would eliminate up to 18 percent of its workforce, or 4,500 jobs, this January. This is up from its estimate last year that 1,500 jobs would be cut in 2009. The company reported marked decline in several of its key businesses last year. Sales of camera equipment fell 36 percent, for instance...