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How Lucent's Retiree Programs Cost It Zero, Even Yielded Profit

Trusts Paid the Tab -- Till Now; Facing Need to Use Cash, Company Imposes Cuts A Handy Tool for Downsizing
Original publication date: 
Monday, March 29, 2004 (All day)

Henry Schacht, Lucent Technologies Inc.'s former chief executive and still a director, met with retirees in 10 states last fall to explain why Lucent was cutting their medical and life-insurance benefits.

How Cuts in Retiree Benefits Fatten Companies' Bottom Lines

Trimming a Health-Care Plan Creates Accounting Gains, Under Some Arcane RulesA Shield Against Rising Costs
Original publication date: 
Tuesday, March 16, 2004 (All day)

The loud message comes from one company after another: Surging health-care costs for retired workers are creating a giant burden. So companies have been cutting health benefits for their retirees or requiring them to contribute more of the cost.

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