The bankruptcy of Hostess cost 18,000 people their jobs, including 80 people in Waterloo. While they look for new work, Hostess’ executives want to cash in on the bankruptcy.
Hostess has asked a federal bankruptcy judge to award 19 executives a combined $1.8 million in bonuses. The company says the money is needed to keep the workers on the job through the year-long bankruptcy process. According to CNBC, the judge has agreed with them and approved the funds.
Hostess is also considering offers to buy some of its brands such as Twinkie and Wonder Bread.