A federal bankruptcy judge on Monday gave Kodak the ok to stop providing certain benefits to retirees by the end of this year.
The ruling by Judge Allan Gropper involves health coverage for medicare-eligible retirees, as well as survivor benefits. That's money paid to a surviving spouse of a Kodak retiree.
Gropper noted that bankruptcy can have a painful affect on retirees, but he said regardless of that financial pain, the move by Kodak is legal, fair and reasonable.
Kodak now spends about 10 million dollars a month on such benefits.
The company issued a statement saying that the decision will significantly reduce one of the company's most substantial liabilities.
Officials say it realizes this action will pose challenges, but says it is one of the many necessary steps to put Kodak on the path to being a profitable, sustainable company.