First it raised CEO compensation by 300% and upper management salaries by up to 200%. Then it laid off 18,000 workers who refused to take another deep pay cut.[1]
Now Hostess Brands Inc. has asked a federal bankruptcy judge to allow it to pay $1.8 million in bonuses to top executives - the same people whose poor decisions put the company out of business to begin with.[2]
This is a slap in the face to the thousands of families who will go without a paycheck this holiday season because a handful of people mismanaged the company into oblivion. Tell Hostess CEO Gregory Rayburn not to pay executives any bonuses until he puts the company's laid-off employees back to work.
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