I know. It’s the big, bad union that will be the death of yet another company, right? Sorry, that excuse won’t fly -especially since this is bankruptcy number two for Hostess. Plus, you also used it last time.
Back in 2004, Hostess filed for bankruptcy protection. The Teamsters members made concessions to help the company’s bottom line:
Over the course of the nearly five years from 2004-2009 that then Interstate Bakeries Co. was in bankruptcy, the union workforce negotiated two rounds of concessions to do their part to help return the company to profitability. It was these concessions that led to the company’s exit from bankruptcy in 2009 and laid the groundwork for substantial new investment from the company’s current lenders and shareholders.
For a company to survive, it can’t all be about cost-cutting. Gotta make that revenue. You have to market and promote your product effectively. And, if needed, change to appeal to more consumers. But Hostess obviously failed to do that. They wouldn’t be filing for a second bankruptcy if Twinkies® were flying off the shelves.
You can’t blame that on the delivery drivers and bakers.
And those delivery drivers and bakers are the ones who will be affected the most:
“We have given so much to help this company but it seems that whatever we give is never enough,” said Lawrence Snitkoff, a Teamsters Local 550 member who has worked for the company for 34 years in New York, NY. “I am three months away from retiring and now I don’t know if I will be able to.”
He worked for over three decades at a company and might not be getting his pension. Looks like he might be another retiree who will really need that Social Security check. That sense of insecurity in your “golden years” must be very frightening.
Sadly, if Hostess goes under, these individually wrapped bits of Americana may be a memory soon. Future kids may not get to enjoy Ho Hos® and Sno Balls®. As adults, these little treats make a lot of us reminisce about simpler times. And they can serve as a sweet break from a more complex world. Enjoy your favorite Hostess snack before it’s gone. Apple Fruit Pie, I’m coming for you.