*Hostess has just laid off more than 18,000 people in their liquidation and bankruptcy of their near 90-year old company, yet it appears that SOME made out like fat rats in the deal.
Speaking of rats, Hostess executives will receive bonuses because they claim that they did a good job “meeting certain budget goals during the liquidation,” according to the Associated Press.
The bonuses for 19 of these execs total $1.8 million and it does not include the compensation for the CEO. (more…)
A rush for Hostess products happened after the company announced its shutdown of operations Friday, November 16, 2012.
*Over 18,000 employees at Hostess must be feeling a little bit relieved by the latest talks between their bakers union and the company.
Although it’s not known if all 33 plants will go back to full operation.
According to the Daily Mail, the courts decided that they have to try a mediation between the two, so that this massive layoff can possibly be avoided.
The outcome of the mediation is supposed to be heard in 24 hours and hopefully, we’ll see all of the parties involved come to an agreement that satisfies everyone.