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Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses- Thoughts?

29 Nov

Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses During Liquidation

11/29/12 07:55 AM ET EST AP

Hostess Executive Bonuses

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NEW YORK — Hostess Brands Inc. plans to ask for a judge’s approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The company’s bankruptcy means loss of about 18,000 jobs.

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1 Comment

Posted by on November 29, 2012 in Uncategorized

 

One response to “Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses- Thoughts?

  1. harajukugirl12

    December 19, 2012 at 7:27 pm

    I think twinkies are super gross. I think the fact that they want bonuses for their executives is repulsive. And they want to cut 18,000 jobs?!?! seriously folks. Get yourselves together. Your executives do not need a bonus. Those jobs you are going to cut are going to reall yhurt the economy and the families. What is wrong with you Hostess. Come on.

     

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