Hostess CEOS Take Pensions from Employees
December 15, 2012
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3:38Now PlayingHostess CEOS Take Pensions from Employees
YouTube Description
as posted by the channel"Hostess Brands Inc. said it used wages that were supposed to help fund employee pensions for the company's operations as it sank toward bankruptcy.
It isn't clear how many of the Irving, Texas, company's workers were affected by the move or how much money never wound up in their pension plans as promised.
After the company said in August 2011 that it would stop making pension contributions, the foregone wages weren't put toward the pension. Nor were they restored."*
After employees of bankrupt Hostess were laid off, they received another insult to injury-- the CEOS raided their pension funds. But at least the CEOs still got their big bonuses. Cenk Uygur breaks down the outrageous move made against workers.
*Read more from Julie Jargon, Rachel Feintzeig and Mike Spector | The Wall Street Journal via Yahoo News:
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