Sunday, November 18, 2012

$7.6 million in salary increases for Hostess executives while filing for bankruptcy?


It wasn't the unions. THE EXECUTIVES TOOK EVERYTHING!

"I am a Hostess employee. Hostess stopped our pension contributions a yr & a half ago. Then they gave the top execs pay raises of 30-80%. They offered new contracts: no pension payments (no retirement plan at all for union employees, but company management still gets contributions to their retirement plans) for another 2 & 1/2 yrs, and then a 75% reduction in pension when they do start paying into it again; we have to pay an ADDITIONAL $200/ mo for health insurance; They took away our last cost of living raise; they gave us an 8% wage cut on top of that; they are outsourcing all of the office work to Manilla."
http://thinkprogress.org/economy/2012/11/16/1203151/why-unions-dont-shoulder-the-blame-for-hostesss-downfall/
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