Hostess pay hikes reversed after Chapter 11
Hostess pay hikes reversed after Chapter 11 That's not a lot of dough.
Facing an internal revolt, Hostess Brands will roll back pay raises it doled out to top managers just months before filing for bankruptcy.
The maker of Twinkies and Ding Dongs is slashing pay for its four highest-paid managers to $1 apiece until Hostess emerges from Chapter 11 or Dec. 31, whichever comes first.
In addition, CEO Gregory Rayburn said four junior execs will see their salaries reset to the amounts they were... read more
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