Eastman Kodak Co. yesterday announced a series of aggressive actions to improve the company’s performance, including large layoffs, mostly in the film imaging group.
Kodak’s 1992 earnings are expected to show a moderate increase from 1991 and that cash flow to be strongly positive.
Long-term debt will have been reduced by about $ 1 billion.
On the New York Stock Exchange, Kodak was one of the most active issues yesterday. Its shares rose 50 cents to close at $ 49.37 1/2.
Three Kodak divisions–Imaging (includes motion picture film), Health and Chemicals–have an operating plan for 1993 “that will deliver positive cash flow and a solid increase in operating income.”
The most urgent actions will be in the Imaging Group, where employment will be reduced by about 2,000, mostly in the company’s Rochester, N.Y., headquarters and largely involuntarily.