Unfortunate for all.
The company could not come out of bankruptcy with the current wages and the workers will draw approximately the same while on unemployment.
I assume no insurance until Obamacare kicks in.
I don't know about their pensions.
TOS,
You are amusing even though I know that is not your intention.
That's my feeling on it, I'm guessing it's been close to 30 years since I ate any Hostess snack food. I guess I'm not the only one.I wonder if this works for the company's benefit? I saw comments about this in another thread so yesterday when I saw the vending guy at work, I asked about the Hostess products in the machines. This guy has been around doing this for years and he told me his observation was that people were buying these products less and less. He even stated that now days, he more often than not removes out of date product whereas a few years ago this was not the case.
This is by no means scientific but I just wonder if less product is being sold to begin with and this just allows the re-shifting of market resources elsewhere? I know myself I can't remember the last time I ate a Hostess product and I got nothing against the company. I just have no desire to consume their products and how many others like me might be the same way?
I do feel sad for these folks as many will suffer from this.
According to the Bureau of Labor Statistics, the mean hourly wage for the designation of “bakeries and tortilla manufacturers” was $12.57 in 2011. Hostess’ median wage was $17, they were paying 35 percent more than the national average not including the cost of health care and retirement benefits. Management's offer was a 10% cut on wages in exchange for a 25% stake in the company.
Food for thought (pun intended).
Hostess has been attempting to bust the union for over two years. They wanted to lower pay and benefits and eliminate health care, you know, what ALL REPUBLICAN business owners would like to do across this country.
The union chose this fight and did what they could do to stand up to this company. The company has chosen to hurt the american workers and BK the plants and shut them down.
Yes, the workers will lose this battle, but the owners of this company will show the country that they do not care about american workers.
Peace
TOS
Uh the union told the workers to take the cuts because they looked and the books and hostess is bleeding money worse than the post office. The workers are not right in this case.
Uh the union told the workers to take the cuts because they looked and the books and hostess is bleeding money worse than the post office. The workers are not right in this case.
Have you seen the books?
The teamsters have and they said they needed to take cuts. Filing for chapter 11 twice in the last few years also tells me all I need to know.