Business

Hostess shutdown sparks grief, Twinkie runs, criticism, praise

Hostess Brands, Inc.Jobs and WorkplaceBusinessMedia IndustryBankruptcyConsumersFinancially Distressed Companies

Hostess Brands Inc.’s announcement that it will go out of business sent shockwaves through the country Friday, as Americans began hoarding Twinkies and Ding Dongs and bemoaning their fading childhoods.

The company, which also makes Wonder Bread, said it will lay off 18,500 workers, blaming a labor strike by the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union. Hostess, which has filed for bankruptcy twice this decade, threatened to liquidate earlier this week.

The union has accused the company, which logged annual sales of about $2.5 billion, of slashing worker pay and benefits while upper management rakes in pay raises.

Video discussion: Union sympathizers slam Hostess over shutdown

On Friday, social media sites saw an explosion of reactions from users, many over the fate of Twinkies, Hostess’ spongy yellow snack cake.

The product has a rich history in popular culture – showing up deep-fried at county fairs and in legal form in criminal trials – and is often suspected of having an infinite shelf life.

The brand, a vintage favorite, even had a starring role in the film “Zombieland,” in which Woody Harrelson’s character Tallahassee barrels through hordes of the living dead looking for a Twinkie fix.

Copyright © 2014, Los Angeles Times
Comments
Loading