Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs, Wonder Bread and other snacks.
The company had warned employees that it would file a motion with U.S. Bankruptcy Court Friday seeking permission to shutter its operations and sell assets if plants didn't resume normal operations by a Thursday evening deadline.
The closing would mean the loss of about 18,500 jobs.
"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands," CEO Gregory Rayburn said in a letter to employees posted on the company website.
Holy smokes!!! Hostess made it clear that unless they cut costs they're going under. They attempted to cut costs, and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union took it to the streets by striking.He added that all employees will eventually lose their jobs, "some sooner than others."
That was the last straw. *BOOM* 18,500 less jobs.
How do you think this same mentality of human will react when the US Govt. goes under and they can't get their entitlements at the same level that they expect? Will they understand the concept of "NO." Or will they self-destruct like the Hostess Brand employees. This is prime "nose cutting to spite face" behavior.
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