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Companies Where Employees Are Losing Hope: 24/7 Wall St.

24/7 Wall St.     First Posted: 09/21/11 11:21 AM ET   Updated: 11/21/11 05:12 AM ET

From 24/7 Wall St.: Some companies become so badly damaged because of changes in the competitive markets or due to poor management decisions that their employees lose hope. This may be due to the fact that they believe the corporations that they work for have little future, or that they will be laid off as their employers try to save these corporations.

This loss of hope is exacerbated by the state of the economy. A person who is fired now likely will find it extremely hard to find new work. Nearly 6 million Americans have been out of a job for more than half a year, which means that work is scarce either because companies have never recovered from the recession or because firms are concerned that a new recession has started to choke the economy.

Read: Companies Where Employees Are Losing Hope

It is impossible to know whether the employees at a very badly run company have completely hope in their situations. However, this is highly likely certain corporations. Layoffs have already started at many of these companies, sales have fallen, or Wall St. has passed a verdict they have faltered badly or failed.

24/7 Wall St. has compiled a list of companies that are in deep trouble. This is based on share prices, layoffs, analysts’ reports about their futures of these firms and the extent to which they have missed Wall St. predictions about earnings-per-share or are likely to in future.

Here are the 10 companies where employees are losing hope, according to 24/7 Wall St.:

8. Eastman Kodak
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Eastman Kodak's run as a public company may be over soon. That would put the jobs of many of its 18,000 employees in jeopardy. Analysts think Kodak's patents may be worth much more than that the company. Kodak has begun the process to find a buyer for these patents. MDB Capital Group told Bloomberg that the digital-imaging patents owned by Kodak may be valued at $3 billion in a sale. A sale of patents could mean Kodak will not keep all of its divisions. Second quarter sales at the company were down 5% in the past quarter to $1.5 billion. Kodak lost $179 million in the same time period. Its Film, Photofinishing and Entertainment Group sales dropped 14% to $369 million for the quarter. This is the area of the company's business where it would be logical to start the next in a long line of lay-offs. Kodak's cash position has become desperate. It has $957 million on hand compared to $1.624 billion at the end of the second quarter a year ago.

Read more at 24/7 Wall St.

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Filed by Harry Bradford  |