My completely uneducated guess from what I’ve read? It was a pretty good mix of poor management and heavy handed unions. Bottom line is, companies fail all the time for a multitude of reasons. If there was a chance to save this and these 5,000 employees refused because they didn’t like the terms then they are free to fully embrace their unemployment. Problem is, they took 13,500 others down with them.
I say economy too; they were premium brands which get consumed more during flush times and less during lean times.
“My completely uneducated guess from what I’ve read? It was a pretty good mix of poor management and heavy handed unions. Bottom line is, companies fail all the time for a multitude of reasons. If there was a chance to save this and these 5,000 employees refused because they didn’t like the terms then they are free to fully embrace their unemployment. Problem is, they took 13,500 others down with them.”
It probably was a mix of things. I wonder though if the execs took a paycut. As somebody who worked for an hourly wage, I have to say asking the common laborers to take a cut while the exec packages stay the same would make not care one way or another.
Kind of the equivalent of walking out on a burger flipping job.