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Last updated on Saturday, November 17, 2012
(LAFAYETTE) - More than 18,000 Americans, including about 800 Hoosiers, are without jobs as Hostess goes out of business.
Jessie Hawila, of WFLI reports, the bakery giant is closing its doors after a week long bakers' union strike protesting pay and pension cuts.
Hostess brands will sell off its iconic brands including Wonder Bread and Dolly Madison.
Bakery operations are suspended, but the company's retail stores will remain open for a few days to sell current products.
Some are angry because they believe the loss of jobs comes from corporate greed. A Purdue expert said, Hostess has been a struggling company for quite sometime.
"They don't want to pay their workers anymore, they want them to pay more," Lafayette resident and union member Candy Minniear said. "Their wages are stagnant, and they don't make enough to cover the cost of living."
"They're carrying a billion dollars worth of debt, and the debt guys should get paid first," Purdue Business Management Associate Dean Logan Jordan said. "They've had seven CEOs in eight or nine years, so there's been a lot of churn in the firm."
There are two Hostess plants in Indiana. One in Indianapolis and another in Columbus.
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