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Thread: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    You're late to the party. Senior management had agreed to work for $1 a year until the company emerged from bankruptcy.
    They only did that because it became public that they had already given themselves raises to offset the pay cuts of filing for bankruptcy. They thought [wrongly] that they could placate their employees.

    And even then, it wasn't a $1 per year salary since at most, that salary would have lasted no more than 8 months. And that was after giving themselves raises while insisting their employs take pay cuts.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    I don't think the dollars the company kept from the employees contributing $3.40 per hour or $136 per week times 8,000 employees gets enough attention. And then there was the $10 dollar a week deal. My guess is that this stuck in the craw of the Union members and poisoned the final vote.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Sheik Yerbuti View Post
    They only did that because it became public that they had already given themselves raises to offset the pay cuts of filing for bankruptcy. They thought [wrongly] that they could placate their employees.

    And even then, it wasn't a $1 per year salary since at most, that salary would have lasted no more than 8 months. And that was after giving themselves raises while insisting their employs take pay cuts.
    Nevertheless, the bakers' union rejected this contract:

    In October, the company filed a plan with the federal bankruptcy court in New York. It called for an 8 percent cut to employees’ wages, a reduction in health benefits, and a freeze in pension plan payments for over two years. In return, unionized employees would get a 25 percent equity stake in the company, two seats on its board of directors, and an interest-bearing note worth $100 million. The 8 percent wage cut was part of a five-year deal that included a 3 percent wage increase in the next three years and a 1 percent raise in the final year.
    Hostess Brands on the Brink

    And now? It would appear they're all unemployed. All 18,000 of them.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    Nevertheless, the bakers' union rejected this contract:



    Hostess Brands on the Brink

    And now? It would appear they're all unemployed. All 18,000 of them.
    Perhaps they are planning on living off the dividends they get from their 25% stake in the company

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    Nevertheless, the bakers' union rejected this contract:

    In October, the company filed a plan with the federal bankruptcy court in New York. It called for an 8 percent cut to employees’ wages, a reduction in health benefits, and a freeze in pension plan payments for over two years. In return, unionized employees would get a 25 percent equity stake in the company, two seats on its board of directors, and an interest-bearing note worth $100 million. The 8 percent wage cut was part of a five-year deal that included a 3 percent wage increase in the next three years and a 1 percent raise in the final year.
    Hostess Brands on the Brink

    And now? It would appear they're all unemployed. All 18,000 of them.
    Who can blame them for rejecting that deal???

    It takes years for them to get back to their $42K wages while the execs (who ran the company into backruptcy) go back to their inflated salaries on January 1st, 2013. And you can be sure that during those years while the workers are stuck in a wage freeze -- the execs would still be giving themselves annual increases and huge bonuses.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Sheik Yerbuti View Post
    Who can blame them for rejecting that deal???

    It takes years for them to get back to their $42K wages while the execs (who ran the company into backruptcy) go back to their inflated salaries on January 1st, 2013. And you can be sure that during those years while the workers are stuck in a wage freeze -- the execs would still be giving themselves annual increases and huge bonuses.
    Well, it's likely to take them years anyway. Nose gone. Face spited.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by washunut View Post
    You might ask yourself why the auto workers for Toyota and other foreign manufacturers grow their workforces in the states. These are non-union and pay a similar rate to GM and Ford. When you think of unions, the mistake people like you make is to think of higher wages. Wages are a small part a modern factory's cost. Try work rules that make productivity the real problem in union shops.
    Perhaps. But consider that unions don't just stabalize wages in their own company. For non union companies to lure good employment they often have to be competetive with union benefits to get good draw. I'm not going to say unions are perfect but the knee-jerk union bashers are so far off base with their assessments that they don't even know why they stand where they stand or what the hell they are saying except the pre-written GOP talking points they like to vomit out there.
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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    Well, it's likely to take them years anyway. Nose gone. Face spited.
    Sure, after the execs already gouged the eyes out.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Sheik Yerbuti View Post
    They only did that because it became public that they had already given themselves raises to offset the pay cuts of filing for bankruptcy. They thought [wrongly] that they could placate their employees.

    And even then, it wasn't a $1 per year salary since at most, that salary would have lasted no more than 8 months. And that was after giving themselves raises while insisting their employs take pay cuts.
    This is overly simplistic. First, they could not give themselves raises WITHOUT APPROVAL FROM THE BANKRUPTCY COURT! Secondly, how would the company assure that management would STAY employed without some enticement? Considering that the ongoing operation required capital infusion what would motivate these PE firms to invest without some form of stable management in place? Or is it you opinion that a 'ship can captain its self'? I'm sure the PE firms would be comfortable with that...
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by winston53660 View Post
    The company could have continued had management done their job in the first place.
    Well, no, not if you have a union that constantly makes unrealistic demands and won't pay attention to what is going on in the market place. Maybe the previous management screwed up, but here at the end two things are plain: 1) if the union had gone along the company could have survived at least for the present, 2) the union dug in it's heels.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

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