I can understand the situation with Kodak because it is a legit bankruptcy and they're backed into a
corner with few options. But anagous things are happening with corps wallowing in record profits:
layoffs, longer hours with reduced pay or cancelled benefits, no new hiring, etc. This kind of tactic might be feasible to get away with at the moment, just because everyone else is doing it; but in the long run it almost never benefits the corporation. Skilled workers are not in fact a commodity, and when they're screwed over, sometimes turn out to be your most serious competitors. I've been at dinner parties for multi-billion dollar international companies celebrating their world dominance in this or that industry that were broke in six month due to such behavior. And I've listened to keynote speeches by youthful billionaires (on paper) that probably couldn't afford cab fare a year later.