“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” said Gregory F. Rayburn, chief executive officer. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”So who's to blame? In this case, it may not have been entirely big labor's fault. Still, it's a sad day for those of us who grew up with Ding Dongs and Twinkies:
About one-third of the company’s workers are union members who are unhappy about the company’s cutbacks during its bankruptcy reorganization.
But problems with several unions — including the Bakery, Confectionery, and Tobacco workers and the Grain Millers International Union — have prevented the company from moving forward. Hostess said it will seek bankruptcy court permission to sell all of its assets. The company said bakery production has already shut down.
Friday, November 16, 2012
Who Killed Twinkies?
Hostess is no more: