Talks to restructure Hostess, the maker of Twinkies and Wonder Bread, are expected to start distastefully, The Post has learned.
The company, which filed for Chapter 11 protection Jan. 11 due in part to high labor costs, will ask its 20,000 mostly unionized workers to accept stiff concessions, which may include new rules that will force drivers to load their own trucks, adding a couple of hours to the work day and having workers pay more for health insurance.
Those concessions don’t seem to be too "stiff" if it is that or have no job.
There could also be demands for thousands of layoffs, including some in the New York metro area.
How many will be laid off forever if the company folds?
A person close to the situation who would like to see the union members accept serious concessions says he believes there is only a 50 percent chance that they will. The unions did not accept a somewhat similar proposal last year from Hostess — prompting last week’s bankruptcy filing…
They sure showed management!
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