Kodak Seeks To Slash Benefits For Some Retirees

Law360, New York (February 27, 2012, 6:40 PM EST) -- Eastman Kodak Co. on Monday asked a New York bankruptcy judge to let it terminate medical benefits for Medicare-eligible individuals who have retired from the company since Oct. 1, 1991, saying it would save $13.7 million for the 2012 fiscal year.

As part of its restructuring efforts, Kodak said it has to reduce the more than $1.2 billion in liabilities on its books for retiree medical and survivor benefits. The photography equipment giant provides retiree medical, dental, life insurance and survivor income benefits to about 56,000...
To view the full article, register now.