After Bankruptcy Hostess Vows to Keep Making Twinkies, But Sacrifices Workers

Here's a case of good news oozing out of bad news, and vice versa.


The bad news is that Hostess Brands has sunk into bankruptcy. It couldn't stay afloat with the $860-million debt piled onto it after a group of Wall Street speculators took over the 82-year-old company.

The good news, though, is that devoted customers can still get their daily fix of five kinds of sugar, partially hydrogenated oil, polysorbate 60, artificial flavors, and yellow dye No. 5 — just a few of the ingredients in Hostess Twinkies. When top executives filed for Chapter 11 in January, they assured an anxious nation that the corporation would keep chugging out Twinkies, Ho Hos, Ding Dongs, and its other caloric delights while they dealt with a few legal details to restructure Hostess.

Oh, goodie! But wait — those "details" constitute the bad news flowing out of the good news. The CEO says that to become "a highly competitive company that provides secure employment for our employees," Hostess must make those employees less secure by busting their pensions, cutting their medical benefits, and abrogating their labor contracts. Does this Twinkie-in-Chief even understand how twisted his logic is? Apparently not, for he also asserts that one of the "tremendous inherent strengths" that Hostess can build on to become a viable company is "a talented and experienced workforce."

Thanks for the compliment, chief, but I'm guessing the workforce would prefer a decent pension. Without that, your words are as empty as the calories in a Ding Dong. Meanwhile, the union workers who literally deliver the goods for the company point out that they've already made concessions — and it's time for the profiteering corporate executives who filled Hostess with all that debt to stop sucking all the cream out of its Twinkies.

#story_page_ below_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.