Tonernews.com, May 6, 2009. USA
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http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=4263
Q1 Loss for Kodak Tops 350 Million!
Trend for Photo/Printing Industry Continues Decline
ROCHESTER,
NY-Eastman Kodak’s first quarter loss touched $353 million, with
erosion for demand of digital and film-based products exacerbated by
the global economic downturn. As a result, the company is suspending
its quarterly dividend, reducing salaries of its top-tier executives
and requiring U.S. employees to take an unpaid one-week leave.Sales
plummeted 29 percent to $1.48 billion, down from $2.09 billion a year
ago. Kodak CEO Antonio Perez will take a 15 percent pay cut for the
balance of 2009 from his annual base salary of roughly $1.1 million.
His top executives will absorb a 10 percent cut.
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