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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]

    Hmmm, I wonder how personnel departments will look at a prospective employee who lists Hostess as his/her previous employer?

    Why do I think they don't have a snowballs chance in hell of being hired by WalMart, even if they would now take the lower pay? But, then, they will probably get 10 years of unemployment benefits at $11.00 an hour.

    Maybe the employees did the math on unemployment benefits, food stamps, childcare support and the rest and absolutely wanted to get laid off, meaning wanting the company to shut down.

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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
    They were going to cut their pay by 8% immediately and increase their portion of the health insurance premium. In years two, three and four of the contract, they were to get a 3% increase each year; in year five, a 1% increase. Pension frozen until 2015. 25% interest in the company to all 6,500+ union workers. Two union representatives on the Board of Directors, made up of eight directors total.
    Okay, I definitely need to re read it. Hostess offered a sweetheart deal, the long term was nothing but win for the employees and it's more than stupid to throw away guaranteed raises, holdings in the company, and board representation over a temporary pay cut and increase in benefits contribution.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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

    Quote Originally Posted by LaMidRighter View Post
    Okay, I definitely need to re read it. Hostess offered a sweetheart deal, the long term was nothing but win for the employees and it's more than stupid to throw away guaranteed raises, holdings in the company, and board representation over a temporary pay cut and increase in benefits contribution.
    Well, don't forget that the company had totally broken faith with the employees. That had to be part of it, too. Before filing bankruptcy, the old CEO gave the executives a huge raise . . . which is why, when he left the company, the new CEO asked them to all work for $1 a year until either the end of the year or 'til they emerged from bankruptcy. That didn't really do much to appease the union, since they had a "gotcha moment" already in place. Plus, again under the old CEO, the employees were giving over around $3.60 an hour towards their pensions -- which Hostess never deposited into their accounts. It appears that the judge said that debt would be erased...I'm not sure about that. In addition, for the past year or so, all the employees were "donating back" $10 a week to the company to help them stay viable.

    There's plenty of blame to go on the company here . . . but still me personally? I'd have taken the contract and looked for a job. Who on earth! wants to be out of a job this time of year? Nobody's even looking for people now.
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    Re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post
    I read the article in the Daily Kos that included these numbers but they seem specious to me. Consider the often reported wage reduction was 8%. If dudes income numbers are right they took a 27% reduction ($48k to $35k - roughly $6.25/hr) and then now are asked to take a 28.5% reduction($35k to $25k - roughtly $4.80/hr) . This is inconsistent with what is being reported AND is WAY out of line with the recent concessions made by the Teamsters as evidenced by the documents on the Teamster website.

    Something seems hinkey…
    it's possible. cnn covered it as well, though, and reported the same story. it's possible that this particular worker's story was not representative, I suppose. however, if I were in his shoes, I'd be pretty pissed off.

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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, don't forget that the company had totally broken faith with the employees. That had to be part of it, too. Before filing bankruptcy, the old CEO gave the executives a huge raise . . . which is why, when he left the company, the new CEO asked them to all work for $1 a year until either the end of the year or 'til they emerged from bankruptcy. That didn't really do much to appease the union, since they had a "gotcha moment" already in place. Plus, again under the old CEO, the employees were giving over around $3.60 an hour towards their pensions -- which Hostess never deposited into their accounts. It appears that the judge said that debt would be erased...I'm not sure about that. In addition, for the past year or so, all the employees were "donating back" $10 a week to the company to help them stay viable.

    There's plenty of blame to go on the company here . . . but still me personally? I'd have taken the contract and looked for a job. Who on earth! wants to be out of a job this time of year? Nobody's even looking for people now.
    Still, when a company is willing to turn a bad faith decision around and it benefits and employee, it's not smart on the employee part to turn it down over a short term loss. In fact those are exactly the types I would not hire, I would want employees who look at the entire picture.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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

    Quote Originally Posted by Helix View Post
    it's possible. cnn covered it as well, though, and reported the same story. it's possible that this particular worker's story was not representative, I suppose. however, if I were in his shoes, I'd be pretty pissed off.
    Well uh, yeah...presuming regular time $48k would be $23/hr. $25k would be $12/hr...I wouldn't be pissed I'D BE WORING SOMEWHERE ELSE!
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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
    They were going to cut their pay by 8% immediately and increase their portion of the health insurance premium. In years two, three and four of the contract, they were to get a 3% increase each year; in year five, a 1% increase. Pension frozen until 2015. 25% interest in the company to all 6,500+ union workers. Two union representatives on the Board of Directors, made up of eight directors total.
    There are (at least) two different unions involved. The 25% stock and 2 board seats was for the teamster union. The compensation specifc, I am not sure what was offered to the bakers union - besides the wage issues you mentioned.

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

    Quote Originally Posted by buck View Post
    There are (at least) two different unions involved. The 25% stock and 2 board seats was for the teamster union. The compensation specifc, I am not sure what was offered to the bakers union - besides the wage issues you mentioned.
    Two union seats on the board. That was the offer to all the unions as I understand it. I don't think it's clear "which unions" got seats . . . and I'm not quite sure it matters much. All union employees were offered the 25% stock. It applied to all of them. Not 25% each, a 25% stake for the 6,500 union employees.

    The company had offered the unions a 25% stake in the reorganized Hostess if they would agree to significant wage and pension concessions but the Bakers Union members overwhelmingly rejected the proposal.
    Hostess Closing Doesn't Spell End For Bakers Union - Forbes
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    Re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post
    Well uh, yeah...presuming regular time $48k would be $23/hr. $25k would be $12/hr...I wouldn't be pissed I'D BE WORING SOMEWHERE ELSE!
    I would really like to know what the vulture capitalist's basic deal was for their loan package. It looks to me that they were allotted excessive collateral and it would be advantageous for them to push for a dissolution of assets and profit accordingly. That is what they do. That is what Bain Capital is about. It is real good business, but truly seedy on the human scale. I don't know how long a vulture capitalist is supposed to try and ressurrect a dead company to be in compliance with the courts, but I don't think it is anything locked in stone. Whatever, it looks like everybody without a money stake got the short end of the stick and there is something missing in the Baker's Union story line. No real vote. Voice vote.???????

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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
    Two union seats on the board. That was the offer to all the unions as I understand it. I don't think it's clear "which unions" got seats . . . and I'm not quite sure it matters much. All union employees were offered the 25% stock. It applied to all of them. Not 25% each, a 25% stake for the 6,500 union employees.



    Hostess Closing Doesn't Spell End For Bakers Union - Forbes
    Sounds to me like the Bakers were getting the same offer as the Teamsters but said no.

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