Saturday, November 17, 2012

Hostess Shutting, Liquidating & Laying 18,500 US Work Force

Hostess has already filed for Chapter 11 bankruptcy protection in January and since then trying to renegotiate its labor contracts in a bid to cut costs. But the talks fell apart, and last week one union went on strike.

This liquidation of Hostess marks an end of 82-year-old company and lay off a large majority of its 18,500 employees. Company has survived an earlier Chapter 11 filing in 2004.


Sources nytimes.

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