Yeah, clearly the Hostess bankruptcy is the fault of rank and file workers, and not greedy upper management (emphasis added).
In seeking court permission for its demise, Hostess said it wants to pay as much as $1.75 million in incentive bonuses to 19 senior managers during the liquidation. Hostess is asking the judge to approve its plan — which would result in the firing of thousands of employees — to shut down 36 bakeries, 242 depots, 216 retail stores, and 311 hybrid depot-store facilities, according to court filings. There are 58 other leased or owned sites used for storage, warehousing of products or parking.
What I’m wondering is in what universe it makes sense for a company to dole out $1.75 million in bonuses to 19 senior managers while at the same time attempting to lay off 18,500 workers.
When will people wake up and realize that workers and unions aren’t the problem – poor-performing executives and vulture capitalists are.