Hostess Single-Handedly Drives Up Jobless Numbers (VIDEO)

Author: December 6, 2012 2:30 pm


Wallace Witkowski reported this morning for MarketWatch, that job cuts for last month rose 34% compared with figures from November last year, thanks to the greedy Hostess executives who laid off 18,500 workers and will receive $1.8 million in bonuses for doing their dirty deeds. According to numbers provided by Challenger, Gray, and Christmas — “the nation’s first, oldest and premier outplacement consulting organization,” according to their website (is “outplacement” now the world’s oldest profession?) — 57,081 workers lost their jobs this November.

Witkowski adds that if it weren’t for Hostess’ over-paid, monumentally incompetent and boundlessly acquisitive executive team, the data for November — and this year — would have looked pretty good:

“The November figures would have actually declined year-over-year had it not been for Hostess Brands eliminating 18,500 jobs as the iconic maker of Twinkies and Wonder Bread received court approval to liquidate the business and sell its brands.”

And let’s not forget that the “court approval” Judge Robert Drain gave so Hostess can “liquidate the business and sell its brands” means — in plain English — that he’s the jerk who’s allowing Hostess’ top brass to get away with firing nearly 20,000 people smack in the middle of the holiday season, and plundering $1.8 million in bonuses for mismanaging the companies and performing the dubious “service” of selling a much-loved brand that already has bids from over 110 companies. Judge Drain’s name is almost morbidly appropriate as he allows these corporate vampires to drain the lifeblood of a company without giving due consideration to the Bakers Union’s request for an independent auditor to oversee the liquidation process.


The top-five companies for 2012 lay-offs, in descending order, are:

  • Hewlett Packard: 27,000 (apparently Carly Fiorina‘s the gift that keeps on giving);
  • Hostess: 18,500 (congratulations, being even more evil than Citigroup takes a lotta work!);
  • Citigroup 11,000 (after foreclosing all those homes, there was nothing left to do);
  • American Airlines (tied with Citigroup at 11,000); and
  • PepsiCo 8,700

Merry freakin’ Christmas, everyone. On the lighter side, a restaurant in the southern suburbs of Chicago, IL made lots of bereft Twinkies fans happy — while boosting business — by giving away 10,000 of the creamy, yellow, sponge-alicious treats to their customers on Wednesday. Andres DeLeon, the clever marketing director for Baby’s Cheesesteak & Lemonade announced, “It’s like a Twinkiepalooza!”

Here’s the video with MarketWatch’s Rex Crum interviewing Wally Witkowski about the report referred to in this article:

More on the Hostess bankruptcy from AI (in chronological order from oldest to newest):


Elisabeth Parker is a writer, Web designer, mom, political junkie, and dilettante. Come visit her at ElisabethParker.Com, friend her on facebook, or follow her on Twitter.

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