Kodak Files For Bankruptcy

Posted by in Career Advice

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Has Kodak become a company of the past?

Anyone who has been looking for a job lately, or struggling through rounds of layoffs at their company, knows, it's tough right now for many businesses. Companies who seemed too big to ever go under have disappeared and many more are just barely keeping their heads above water.

The next in the line of companies filing bankruptcy is Kodak. The company filed for Chapter 11 bankruptcy protection last week, hoping to find a way to restructure the company and make it profitable.

It's shocking to many that this 132 year old, trailblazing company would be failing. Kodak has been the standard in photography and photo technology since the early days. In fact, they were the company behind the movement to bring the ability to take photos into the home instead of being in the realm of the photo studio.

Kodak first began having trouble in 1980, when Fuji Film Company began selling disposable cameras and less expensive film. It was one of the first times that another film company began marketing less costly film that worked almost as well. Then came the digital age, and now we don't take as many pictures with actual cameras anymore. Digital cameras and smartphone cameras have spread to the point where almost everyone has one and there isn't as much of a need to drop film off to get developed.

It's sad to see a company like Kodak fall so hard. Even though the bankruptcy filing doesn't mean that the company is going out of business, it isn't a good sign. I am crossing my fingers and hoping that they will make good on their promise to come back from this restructuring as a stronger, more streamlined company.

What do you think about this news? Do you think Kodak can make a comeback? Please share your thoughts in the comments.

By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for BusinessWorkForceBlog and Nexxt. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

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