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Twinkies is going out of business

Published on Friday, November 16, 2012

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Twinkies is going out of business and all 18,500 employees will be layed off, the company announced today.

Twinkies is going out of business and all 18,500 employees will be layed off, the company announced today.

Twinkies is going out of business and laying off all of its 18,500 workers after a national strike crippled its operations, the company said today.

Founded in 1930, the company was fighting battles beyond labor costs. Competition is increasing in the snack space, and Americans are increasingly conscious about healthy eating.

Hostess Brands had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn't return to normal levels by Thursday evening.

 

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