Sad news in the photo industry today: Australia's biggest newspaper company, News Corp, has announced that it will be gutting its photography departments at newspapers across the country, axing most of its staff photographer and subeditor positions in an effort to cut costs.
GoPro has had a rough few years, with its stock falling from over $80 a share in 2014 to less than $10 a share today. Working to turn its fortunes around, GoPro just announced that it has trimmed another 270 jobs in order to reduce expenses.
Nikon's high-end camera division hasn't been doing so hot these days, and now a new reports claims that Nikon will be cutting about 1,000 jobs in Japan, which represent about 10% of the company's total workforce. Nikon, however, quickly issued a statement denying the report.
Kodak has announced that it'll be shedding even more jobs in an effort to cut costs as it transitions into being a company solely focused on commercial printing and corporate services. Two weeks after announcing the sale of its photographic film business, the company is stating that another 1,000 pink slips will be issued by the end of this year as part of a $330 million cost cutting plan. This is on top of the 2,700 layoff notices already handed out this year, and the new round of cuts will reduce the company's headcount to 13,400, down from the 145,000 employees it had during its glory days.