Hostess Brands Inc., the bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Hostess said a national strike by members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that began last week had crippled its ability to produce and deliver products at several facilities.
The liquidation of the company will mean that most of its 18,500 employees will lose their jobs, Hostess said on Friday.
The 82-year-old company said it took the decision to shut down after determining that not enough employees had returned to work by a deadline on Thursday.
Is there any wonder (pardon the pun) that Big Labor is at a low point in membership and public support? The notion that it’s better to send 18,500 people to the unemployment lines and dissolve — not merely sell, but break up and eviscerate — a venerated company is the sort of zero-sum mentality that should send American workers fleeing from organized labor.
It is instructive to see the fat-cat salaries that the union bosses receive. The March 2012 LM-2, the annual filing required by the Department of Labor for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union reveals that union bosses collectively received more than $3 million in compensation. The secretary treasurer takes down a whopping $196, 627 while the president rakes in $210,672. Hey, the Big Labor execs have their dough, so why should they sweat, a month before Christmas, about 18,500 employees going jobless? Perhaps they should adopt a new slogan for their union: Let ‘em eat cake.