Because they're eligible for Medicare, Kodak says the retirees wouldn't lose core health coverage
BUFFALO, N.Y.—Eastman Kodak Co. is seeking to drop health care benefits for retirees who stopped working after 1991 and are eligible for Medicare.
The request comes as the Rochester, N.Y.-based photography company seeks to emerge from Chapter 11 bankruptcy proceedings that began last month.
Kodak said Monday that the move would affect 16,030 retirees over the age of 65.
Because they’re eligible for Medicare, Kodak says the retirees wouldn’t lose core health coverage and the company would save $20.5 million a year.
Retirees who left before October 1991 wouldn’t see any change.
A hearing on the motion is scheduled in U.S. Bankruptcy Court in New York City on March 20.