Hostess Brands CEO said Wednesday the company will liquidate unless striking workers return to the job by the end of the day on Thursday.
"We simply do not have the financial resources to survive an ongoing national strike," Greg Rayburn said in a statement.
Workers are protesting a contract imposed by a bankruptcy court. The bakers union has called the contract "outrageous."I'm sure they don't appreciate that the unions won't negotiate.
A liquidation would result in more than 18,000 workers losing their jobs.
Over the weekend, workers in the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union, or BCTGM, went on strike at Hostess-owned plants in several states. The strike includes workers at the Dolly Madison plant in Emporia.
Hostess filed for bankruptcy in January, the second time it has done so since 2004.
Union employees in Emporia say in August of last year the company stopped giving them their pension earning. They say it now wants to cut wages by eight percent.
"You put in the time, you put in the years, I mean, we all have dedicated our lives to the company and they just don't appreciate it," said one striking worker.
I have a hard time imagining that Hostess Brands would want to completely shut down their operation. They are the largest baker in the United States and they've been around forever! Throw this one on the union greed pile. In a faltering economy, they expect to make the same wages they always did and keep their jobs. good luck with that. We're all hurting. Food prices are up. People are buying generic brands. Energy prices are up, and there is no end in sight.
My best wishes go to Hostess. I'm sure the left will have a heyday with them if they close, trying to make them out to be the "greedy rich."