Bakers at 24 of Hostess’ 36 bakeries are on strike, protesting a labor deal that forces them to accept lowered wages and cuts to benefits. However, far from having their demands met, the already struggling company told the employees that they may be forced to stop production and liquidate their assets if they refuse to return to their posts.
Hostess is currently rising out of bankruptcy for the second time in less than a decade, and with the added burden of striking workers, have already shuttered bakeries in Cincinatti, Seattle, and St. Louis. CEO Greg Rayburn says that the company has no intention of negotiating with the union, meaning bakers can either accept the deal or lose their jobs for good.
(CNN Money via Geekosystem)