date:Aug 25, 2012
ut $40 million a year. So, this is an 8% wage cut year one, but I think the key to that is, and whats different about this from other deals Ive done, is it is total company wage concessions, its not one specific union. In other words, its management and everyone. From my point of view, the only way to make this work is everyone has to get in the same boat.
While Hostess battles with its unions have taken center stage over the past several months, Mr. Rayburn was quick to point out that unions do