Hostess workers angry about executive bonuses

By WEEK Reporter

November 30, 2012 Updated Nov 30, 2012 at 8:24 PM CDT

PEORIA, Ill -- Angry Hostess Workers say the company that just laid them off is now adding insult to injury.

Thursday, a federal bankruptcy judge approved a plan for liquidation of the company -- known for its iconic snack cakes like Twinkies and Ho-Hos.

The plan includes laying off 18,000 workers nationwide, 150 of those here in Peoria and paying nearly $2 million in bonuses for company executives.

This as the company says it doesn't have enough cash on hand to pay retirement benefits for some its former employees.

"Anybody's got a reason to be upset that's lost their job and somebody's been handed large amounts of money," said fomer Hostess employee Paul Carroll.

In a statement, Hostess said those millions of dollars in bonuses are designed to keep top brass from leaving before winding down what's left of the company quote "quickly and cost-effectively."

Meanwhile, around 110 potential buyers have contacted Hostess Brands about bidding for at least part of the its business.

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