Kodak to cut 1,700 jobs worldwide

Photography giant Eastman Kodak is cutting up 1,700 jobs worldwide as it struggles to rebound from a two year slump in film sales.

The cuts were announced as the world’s largest photography company posted sharply higher third-quarter earnings of €342m.

Kodak said lower administrative costs and interest expense and improvements in manufacturing operations helped generate a higher profit.

However, worldwide sales of rolls of consumer film fell.