Market Wrap Daily

Posted by Market Wrap Daily | Posted in: Recent, Technology

Eastman Kodak to stop making digital cameras

Eastman Kodak, the inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs.

Eastman Kodak filed for bankruptcy protection last month.

Kodak said on Thursday that the move would result in “significant” job losses at the business, which employs 400 people, most of whom are based in Rochester, New York. 

The company has not disclosed its employee numbers since the end of 2010 when it announced that it had a work force of 18,800 employees.