Hostess Lays Off 15,000 Workers

Hostess Brands Inc. won interim approval from a bankruptcy judge to shut down and take steps to sell the Twinkie maker’s assets after mediation with its bakers’ union failed to resolve a contract dispute, leaving more than 18,000 jobs at risk. U.S. Bankruptcy Judge Robert Drain today approved Hostess’s request to close at a hearing in White Plains , New York . Chief Executive Officer Gregory Rayburn said 15,000 workers will be fired today so they can start receiving unemployment benefits . Hostess said Nov. 16 that it needed to liquidate because a weeklong strike by its bakers’ union crippled operations/ Bloomberg . More here.

Question: Did the bakers’ union lead members astray?