Kodak Suspending 401k Payments, Warning of Bad Returns for Q4

Well, you knew it had to happen. A consumer electronics corporation in the midst of the worst Christmas buying season in a long time was going to suffer, and now its reporting the crisis to Wall Street. Kodak is suspending 401k payments, freezing executive salaries and withdrawing it’s “Second-half Guidance,” which is basically a prediction of it’s sales for this quarter.

I hate to say it – really, really, really hate to say it – but it seems like layoffs might also be in the works.

By Tommy Belknap

Owner, developer, editor of DragonFlyEye.Net, Tom Belknap is also a freelance journalist for The 585 lifestyle magazine. He lives in the Rochester area with his wife and son.