ONTD Political

layweed 16th-Nov-2012 06:15 pm (UTC)
Thank you for saying this. I have had the same thing on my mind but didn't want to say it for fear of being dogpiled as being anti-union or something. The company was in the process of undergoing bankruptcy and posted net loses of $341 million in 2011. The company also attempted to make up for the 8% pay cut with a slow increase (though not fully back to normal" over 4 years and other compensations like union reps on the board of directors and equity.

I'm not saying management doesn't deserve some blame for this, but it's between a rock and a hard place.

http://dealbook.nytimes.com/2012/11/16/hostess-brands-says-it-will-liquidate/
http://money.cnn.com/2012/11/16/news/companies/hostess-closing/

eta: not to mention the sugary crap that Hostress produces won't be going anywhere. They'll just sell off the rights (or recipes, idk) to some other company who will continue putting it on store shelves.
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