Re: Hostess is liquidating its assets and laying off over 18
It's kind of stupid on all parts. The worker's union made everyone lose their jobs. That's the opposite of what they're supposed to do.
I had went to get a final treat, 1 hoho, 1 twinkie, 1 cupcake, and 1 ding dong (the individually wrapped ones) and when I was at target, a guy from a competing company was talking about this with me. He said his company already put in a bid to buy some of these hostess recipes, and also explained the nature of it.
Basically Hostess was threatened to file bankruptcy like about a year ago, and asked employees to take a pay cut. They agreed, and later found out that the pay cut was to give the executives a bonus. Then this repeated like a half of a year later, employees were skeptical but again agreed to a second pay cut. This was later used to pay executives a bonus. Now it came up again, but the employees had enough so they went on strike for like 4 days. Hostess demanded they return to work or had to file bankruptcy. Not enough employees returned to work, so here we are. The guy also mentioned it was determined that Hostess was not paying for their insurance and 401Ks for a little while as well.
Puts all of those affected into a very rough situation. Yikes.