"Unfortunately, the company's operating and financial problems were so severe that it required steep concessions from a variety of stakeholders but not all stakeholders were willing to be constructive," said Ken Hall, the Teamsters' Secretary-Treasurer.
"Teamster Hostess members, based on the facts and advice from respected restructuring advisors, understood what was at stake and voted to protect all jobs at Hostess."
Frank Hurt, president of the bakers' union, called the liquidation "a deep disappointment" but said his members weren't the ones responsible, blaming the various management teams in place at Hostess over the past eight years for failing to turn the firm around.
"Our members decided they were not going to take any more abuse from a company they have given so much to for so many years," Hurt said in a statement late Friday. "They decided that they were not going to agree to another round of outrageous wage and benefit cuts and give up their pension only to see yet another management team fail and Wall Street vulture capitalists and 'restructuring specialists' walk away with untold millions of dollars."
The teamster voted to keep there jobs, the bakers union did not. This forced the company to ask for close its operations
Hostess Brands closing for good due to bakers strike - Nov. 16, 2012
Seem to me the Hostess was still wiling if the unions were. |
