Nov
16
2012
20

Hostess Brands to liquidate. Thanks, Big Labor!

Big Labor has killed the goose that laid the golden sponge cake:

NEW YORK (CNNMoney) — Hostess Brands — the maker of such iconic baked goods as Twinkies, Devil Dogs and Wonder Bread — announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them.

The closing will result in Hostess’ nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide. The bakers’ union represents around 5,000.

(more…)

Site by Neil Stevens | Theme by TheBuckmaker.com