Eastman Kodak Company announced that a plant in Coburg, Australia, that primarily manufactures color photographic paper will close at the end of November, affecting a total of about 600 employees at the plant and associated operations.
The decision to close the Coburg plant reflects the decline in demand for traditional consumer photographic products with the rise in popularity of digital photography, especially in developed markets. The closing is part of Kodak's three-year program, announced in January, to reduce worldwide employment by 12,000 to 15,000, and to reduce total facilities square footage by one-third.
"This decision in no way reflects upon the performance of our Coburg employees, which has been excellent," said Daniel T. Meek, Director, Global Manufacturing & Logistics, and Senior Vice President, Eastman Kodak Company. "We thank them for their service, and we will do all we can to assist them in their transition."
Impacted employees will receive severance benefits, counseling and assistance in securing new employment.