Rochester, N.Y.: Kodak cutting health benefits for 56,000 retirees
►http://www.wsws.org/articles/2012/nov2012/koda-n05.shtml
By Steve Filips
5 November 2012
Kodak is seeking to eliminate health benefits for 56,000 retired workers. Last month, the company, which is operating under bankruptcy protection, asked the bankruptcy court approval to offload retiree health benefits in an effort to shed the $1.2 billion worker benefit. The company had hearing a last week to consider the proposal and a decision could be made at any time.
This action will affect 56,000 retirees, dependents and survivors. All those who are not eligible for Medicare will lose their health benefits and everyone will lose vision, life insurance and other benefits. This was not an unexpected move. Many companies utilize bankruptcy as a means to abolish pension benefits for retired workers.