Eastman Kodak Co. will eliminate about 300 jobs as it shuts down two different manufacturing operations at its Colorado plant this year.
Kodak's Colorado plant is in Windsor, north of Denver.
The move is part of Kodak's ongoing efforts to "maintain competitiveness and maximize utilization of worldwide manufacturing capacity," the company said Tuesday.
Kodak (NYSE: EK), based in Rochester, N.Y., said by the end of 2009 it will shut down the Windsor plants' printing plate manufacturing operation and a converting and packaging facility for motion picture films. The work of those divisions will be transferred to other Kodak plants that have extra capacity, the company said.
Kodak said much of the plate production handled by the Windsor plant will be transferred to its plant in Columbus, Ga. The other division, converting and packaging of motion picture films, will be transferred to the company's primary film manufacturing center in Rochester, N.Y., Kodak said.
In some cases, impacted employees will be offered the opportunity to take other positions at the Colorado Site, or to transfer to the other Kodak sites, the company said.
After the shutdown of these two operations, the remaining activities at the Windsor plant will be focused on the production of media for producing digital and photographic prints -- thermal media for digital picture kiosks and color photographic paper used by photofinishing outlets, the company said.
"These decisions were not in any way related to the performance of the site employees, which has been excellent," said Robert Gray, site manager, in a prepared statement. "These actions simply reflect the challenge facing all companies to be as competitive as possible in the current economic environment."
The statement said all employees who are laid off would receive termination benefits, including severance payments, outplacement counseling, and continuation of medical coverage for four months.