Job Market Monitor
Hostess
Twinkies are coming back
Twinkies are coming back from the dead, and the Indianapolis Hostess plant on Shadeland Avenue is expected to be fired up again. Additionally, the Columbus plant may be used as a distribution center. “Well they need to be out here [because] no one can take their place,” said former employee Kevin Townsend. “That’s for sure.” … Continue reading
(UPDATE) Hostess / Closure with 18,500 Layoffs
How Hostess Failed: Hedge Funds V. Unions When Hostess Brands announced that it would close up its operations,the forces most responsible for that decision were two hedge funds that control hundreds of millions of Hostess debt and which have finally decided they won’t squeeze any more filling into the Twinkie. The funds, Silver Point and … Continue reading
Hostess / Closure with 18,500 Layoffs
Failing to persuade striking employees to return to work, Hostess Brands disclosed plans on Friday to liquidate its assets and lay off most of its 18,500 workers, bringing the 82-year-old maker of Wonder Bread and Twinkies to the end of its line. The painful decision to wind down the Irving, Texas.-based private company follows a … Continue reading
Philadelphia – Hostess closings to cut 627 jobs
The closures in Seattle, St. Louis, and Cincinnati spared Hostess’ Northeast Philadelphia bakery, where 330 members of Local 6 of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union stopped working at 12:01 a.m. Saturday to protest wage and benefit cuts approved last month by a bankruptcy judge. “We’re fighting for our pensions, we’re … Continue reading
Hostess sent potential layoff notices to its 18,000 employees nationwide
Hostess had warned earlier this month that certain conditions — such as an “unsatisfactory resolution to its pending motion before the bankruptcy court regarding certain modifications to its collective bargaining agreements” — could force it to liquidate. “The notices were sent to alert employees that a sale or wind-down of the company is possible in … Continue reading
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