Kodak Announces Layoffs

Fresno, Calif. That brings the total number of positions the company will eliminate this year to between 3,500 and 4,500. The photo products maker says the cuts affect up to 18 percent of its staff.

The announcement comes as Kodak reports a fourth quarter loss of $133 million dollars, or 50 cents per share. The business blames the recession for its problems.

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