Rochester, N.Y. - Kodak announced plans on Wednesday to delay health care benefit cuts for some of its retirees.
During a March bankruptcy court hearing, a judge postponed Kodak's motion to end retiree benefits, until first deciding if the retirees should have a committee to represent their interests.
In a memo released Wednesday, the company said it wants that committee in place, before it moves forward. As a result, Kodak will not end benefits for some retirees as it initially hoped to on May 1.
In Februrary, Kodak announced plans to end health benefits would be cut for those 65 and older, and retired on or after October 1, 1991. The benefits would be also be cut for their survivors and dependents who qualify for medicare.
A total of 16,000 retirees would be impacted by the move.
Kodak is in the midst of restructuring following its January bankruptcy filing. The company said the proposed benefit cuts would save the Kodak $94 million over the next five years.
