#1 Twinkies are back, but most jobs are not07-15-2013, 01:51 PM
Twinkies are back in stores. But most of the jobs of the people that make them won't be returning any time soon.
There were 18,500 people working for Hostess Brands when the company went bankrupt in November, making Twinkies, Wonder Bread and a variety of other brands.
But only about 20% to 25% of those jobs will end up returning when all the brands are up and running again, according to estimates by Natalie Everett, a bread and snack industry analyst with IBISWorld.
Typically, companies that buy iconic brands like those produced by Hostess invest in equipment and machinery to replace laborers -- which is why the jobs aren't coming back, Everett said.
Hostess had two main unions when it went under: About 6,600 employees were members of a bakers' union and worked at 33 bakeries nationwide, and 7,500 were drivers who belonged to the Teamsters union.
Hostess announced plans to liquidate in November after offering workers a new contract with reduced wages and benefits. The Teamsters accepted the deal, but the bakers' union rejected it. Hostess management blamed the bakers for forcing the company to shut down.
Related: New Twinkies will double their shelf life
Twinkies and a number of other Hostess snack brands were purchased by a joint venture of Apollo Global Management and Metropoulos & Co. The new company bought five bakeries but will only operate four.
Read More>http://money.cnn.com/2013/07/15/news...source=cnn_binHow is obama working out for you?
07-15-2013, 03:28 PM
So the chant shouldn't be "no Justis, no peace" it should be "no jobs, no Twinkies"Mark - Laugh At A Libtard
Words to the Wise (blog)
07-15-2013, 06:47 PM
Thank The Emperor they are back!!!May the FORCE be with you!
07-16-2013, 08:48 AM
Who cares about Twinkies? There's no chocolate in them.
Ding Dongs, on the other hand, are a gift from Heaven.
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