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The possibility of losing their health care benefits has been a primary worry among Kodak's 38,000 retirees. A letter Monday to Kodak retirees unaffected by the current proposal
-- those not yet 65 or who retired before October 1991 -- did little to reassure them. "This change .... will not apply to you," the letter said. "However, Kodak continues to review its retiree medical, dental and survivor benefits and may in the future request court authority to modify or terminate additional benefits." In its court filing, Kodak cited the need to bring its retiree benefits costs in line with its current size. Since 2003, Kodak's global workforce has shrunk from 63,900 to 17,000 and revenues have dropped from $14.4 billion to $6 billion, the filing said. Kodak "believe(s) that terminating post-1991 Medicare enhancement benefits is a logical and socially responsible step to take in rationalizing (its) retiree medical and survivor benefits program, because these benefits do not provide core medical coverage and are readily and economically replaceable in the open market," the document said.
[Associated
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