The bankrupt maker of the Twinkies snack cake, Hostess Brands Inc., received court permission to impose a pay-cutting collective bargaining agreement on thousands of workers in a bakery union. The company has argued that imposing the agreement, which will cut wages by eight per cent and reduce benefits, was the only way for Hostess to avoid liquidating its assets and going out of business. Hostess, which operates 36 bakeries, filed for Chapter 11 bankruptcy in January in New York.
