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Small Business
Polaroid clips benefits
September 6, 2001: 3:33 p.m. ET

More companies are struggling to pay for their employees' health coverage
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NEW YORK (CNNfn) - Deb-ridden Polaroid Corp. plans to reduce health benefits for workers and retirees, saying rising medical costs mean it can no longer afford to continue picking up its previous share of the bill.

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The Cambridge, Mass.-based instant camera maker estimated the cuts in health benefits to an estimated 3,500 current U.S. workers, and thousands of company retirees, would save Polaroid $20 million a year.

CNNfn's Valerie Morris said as the economy continues to slow, more workers may find themselves between a rock and a hard place. She has more on the story. graphic




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