WHAT?! Say it isn't so. HOSTESS, the maker of Twinkies, as well as Wonder Bread and other brands, is liquidating the business. They're done! That means they will be firing about 18,000 workers.
It all started over about 6,000 workers that had gone on strike at the start of November. They were upset about the new fresh labor contract. This strike affected about two thirds of the brands 36 plants. The Wall Street Journal talked with Chief Executive, Gregory Rayburn:
"We deeply regret the necessity of today's decision, but we don't have the financial resources to weather an extended nationwide strike," Mr. Rayburn said on Friday. The company will "promptly" dismiss most of its 18,500 employees and focus on "selling its assets to the highest bidders," he said. Hostess has said it couldn't survive without the reductions and pension restrictions it sought from employees.
Better stock up on Twinkies while they last. Watch the report here: