The 82-year-old snack food company Hostess Brands, the maker of Twinkies, Hostess Cupcakes, Ding Dongs, Hostess Fruit Pies, Donettes, Dolly Madison cakes and Wonder Bread, is going out of business due to a nationwide strike by members of the bakers union. The Bakery, Confectionary, Tobacco Workers and Grain Millers International Union went on strike last week.
Hostess said they don't have the resources to weather a nationwide strike.
This will cause 18,500 Hostess employees to lose their jobs.
Hostess filed Chapter 11 bankruptcy in January. They settled their labor dispute with the Teamsters Union under federal bankruptcy court supervision, but the bakers union refused to go along with the settlement and went on strike.
Hostess cited union wages and pensions for the closure as they made the company unprofitable.
Now they don't have jobs. Nice going, guys!
Hopefully, Hostess products will be sold to other companies. We can thank the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union for killing Hostess.
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