Carestream joins other medical imaging firms in commencing layoffs. Image Source: www.wral.com

Carestream Health reported Monday that it will cut up to 700 people from its work force over the next three years, as a means to cut costs.

The company said that approximately half the cuts will come from the Rochester, N.Y., area, where about 1,400 of its total 8,000 workers are based.

Carestream spokesperson, John LaBella, said the cuts will come from administrative, as well as manufacturing departments. He added that executives decided to cut jobs after they operated Carestream independently for a year and found its costs were too high for a company of its size.

Carestream was formed in 2007 when Eastman Kodak sold its assets to Toronto-based Onex.

Employees were told of the planned cuts last week, according to the company.