Tags: Kodak | Bankruptcy | benefits | bonus

Kodak Proposes Bonuses, Withdraws Benefits Cut

Friday, 06 April 2012 12:57 PM EDT

Eastman Kodak Co. is asking for permission to pay about 300 key managers and other employees a total of $13.5 million in bonuses to keep them from leaving the company as it reorganizes under bankruptcy protection.

The Rochester-based photography company filed the request this week in U.S. Bankruptcy Court in New York.

In making its case for the bonuses, Kodak says the targeted employees have knowledge and skills critical to help the business emerge from Chapter 11 and would be difficult to replace if they left to pursue other offers.

Also this week, Kodak told retirees it has withdrawn its motion to end health care benefits for about 16,000 retirees who are over age 65 and eligible for Medicare. Kodak cites plans to form a committee to examine legacy retiree costs.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


131
2012-57-06
Friday, 06 April 2012 12:57 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved