Hostess Wants to Give Execs $1.8M in Bonuses

9:07 AM, Nov 29, 2012   |    comments
A Twinkie the Kid sign is posted on the window at a Wonder Hostess Bakery Outlet on November 16, 2012 in San Leandro, California. Hostess Brands, the maker of Twinkies, Ding Dongs and Wonder Bread, announced plans to liquidate its assets and lay off nearly 18,500 employees due to a workers strike brought on by an imposed contract that would cut workers' wages by 8 percent. (Photo by Justin Sullivan/Getty Images)
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NEW YORK (AP) - Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year. 

Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.

The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands.

The company's bankruptcy means loss of about 18,000 jobs.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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