Hostess CEO Cuts Worker Pay, But Leaves Own Salary Untouched

Hostess CEO Cuts Worker Pay, But Leaves Own Salary Untouched: After failed Twinkies-maker Hostess filed for bankruptcy in November, acting chief executive Gregory Rayburn imposed an 8 percent across-the-board pay cut on the company’s workers. Despite those cuts, Rayburn, who took the company over after its second bankruptcy filing in March, will not be subject to the pay cut because he is not technically a [...]/p

Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales

Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales
"This is only the tip of the iceberg. As equity funds have taken more and more control of companies, they have also robbed more and more employees of a living wage, their pensions, and more. One need only point to how bankruptcy laws were rewritten to understand how Hostess investors managed to make a killing and protecttheir investment at the expense of their employees, who paid for it with their hard-earned dollars.

There ought to be a law against that."

Hostess To Pay $1.75 Million In Executive Bonuses After Blaming Unions For Bankruptcy

Hostess To Pay $1.75 Million In Executive Bonuses After Blaming Unions For Bankruptcy: Hostess Brands, the maker of sweet snacks like Twinkies that filed for Chapter 11 bankruptcy protection last week, will ask a bankruptcy judge today to approve a plan that will allow it to pay $1.75 million in bonuses to 19 of its executives. Hostess’ decision to file for bankruptcy came amid disputes with its union [...]/p