pension liabilities
The U.S. Postal Service (USPS) is pausing its employer pension contributions to conserve cash amid a growing financial crisis. Postmaster General David Steiner warned the agency could run out of money within a year without action. The move is expected to save about $2.5 billion and will help USPS continue delivering mail and paying workers. […]
Kodak warned there’s “substantial doubt” about its ability to stay in business due to nearly $500 million in short-term debt and over $200 million in pension liabilities. Its stock fell 26%, and the company plans to clarify its pension plans by August 15. Kodak warns its business is in “substantial doubt” after 133 years – […]
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