Hostess Is Bankrupt

http://money.cnn.com/2012/01/11/news/companies/hostess_bankruptcy/

The company has about 19,000 full-time and part-time employees, including 10,413 hourly workers and 8,436 salaried workers, according to a court filing. About 83% of the employees are union members.
"The employees have been witness to the closing or sale of several operations within the debtors' business as well as company-wide layoffs or reductions in force," the document said. "The increase pressures on the employees, together with layoffs and general concern about the welfare of the debtors, have led to a decline in employee morale."