To: Gregory Rayburn, CEO, Hostess Brands
No bonuses for Hostess executives!
Your top executives do not deserve bonuses when workers are forced to go without a paycheck. Please withdraw your request for executive bonus compensation immediately.
Why is this important?
First it raised CEO compensation by 300% and upper management salaries by up to 200%. Then it laid off 18,000 workers who refused to take another deep pay cut.[1]
Now Hostess Brands Inc. has asked a federal bankruptcy judge to allow it to pay $1.8 million in bonuses to top executives - the same people whose poor decisions put the company out of business to begin with.[2]
This is a slap in the face to the thousands of families who will go without a paycheck this holiday season because a handful of people mismanaged the company into oblivion. Tell Hostess CEO Gregory Rayburn not to pay executives any bonuses until he puts the company's laid-off employees back to work.
[1] http://ow.ly/fGRs9
[2] http://www.huffingtonpost.com/2012/11/29/hostess-executive-bonuses_n_2210515.html.
Now Hostess Brands Inc. has asked a federal bankruptcy judge to allow it to pay $1.8 million in bonuses to top executives - the same people whose poor decisions put the company out of business to begin with.[2]
This is a slap in the face to the thousands of families who will go without a paycheck this holiday season because a handful of people mismanaged the company into oblivion. Tell Hostess CEO Gregory Rayburn not to pay executives any bonuses until he puts the company's laid-off employees back to work.
[1] http://ow.ly/fGRs9
[2] http://www.huffingtonpost.com/2012/11/29/hostess-executive-bonuses_n_2210515.html.