Hostess Going Out of Business, Laying Off 18,500 Employees
They say a Twinkie could survive a nuclear war. Hostess, the company that makes the treat, no so much. In fact the venerable brand, which has a history stretching back to 1930, has just been shuttered by a labor dispute.
This week Hostess bakers went on strike to protest a new contract which had been imposed in bankruptcy court. Management said they would liquidate the company if the bakers didn't return to work. On Friday morning, they made good on that threat.
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn explained.
The move means 18,500 Hostess employees will lose their jobs. It doesn't necessarily mean that Twinkies, Ding Dongs, Ho Hos, Sno Balls, Susie's Qs and Wonder Bread will soon disappear from the shelves.
Hostess plans on selling off its brands, and it stands to reason some of their more popular products will be snapped up and continue to be distributed.
Which of Hostess's sugary concoctions do you think is most worth saving?