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Hostess Sends Layoff Notices to All 18,000+ Workers


 

From WSJ:

Hostess Brands Inc. on Friday sent out letters notifying its more-than 18,000 workers that they could be laid off in the next two months.

The maker of Twinkies and Wonder Bread on Friday mailed out WARN Act notices to all of its employees, a Hostess spokeswoman confirmed to Bankruptcy Beat Monday. The federal WARN Act requires companies to give employees 60 days notice before closing a facility or ordering mass layoffs. However, sending the notices doesn’t mean a company is definitely going to lay off the recipients.

“The conditional WARN notices were sent to alert employees that a sale or wind down of the company is possible in the future. There are no immediate actions being taken,” spokeswoman Anita-Marie Laurie said Monday in an emailed statement. “Our goal is to emerge from bankruptcy as a growing company with a strong future—one that continues to provide good jobs with competitive wages and benefits.”

Hostess’s future remains uncertain, largely dependent upon the outcome of negotiations with its two big unions over the fate of their labor agreements as well as upon its search for new capital. Investors are to submit second-round bids for the business this week, Hostess attorney Corinne Ball told the bankruptcy court last month.

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