Israel and Hamas were able to agree on a truce today, but yet our iconic American brand Hostess could not come to terms with its striking bakers union, so it is officially closing, costing 18,000 U.S. jobs. The 82-year old company made products that have become part of our vernacular such as Wonder Bread, Twinkies, Drake’s cakes.
Hostess won permission in U.S. bankruptcy court Wednesday to begin shutting down. It hopes to find new homes for these brands and about 15,000 employees will lose their jobs right away, while some 3,200 will be let go within four months, according to the AP. Hostess has some 33 plants, plus 565 distribution centers and 570 bakery outlet stores.