Hey OKBOWMAN et al...
I can tell you how I would have negotiated this "30% reduction in pay to save the company" crap.
The buckwheat would have been sorted from the bullshit in about 3 sentences and everyone would have known who was...and wasnt serious about "saving the company".
1. I'll agree to a 30% decrease ONLY if every single employee from the CEO to janitors take the same cut in salary and benefits.
NO.
2. If Hostess folds the tent within 2 years, you backpay all the employees the 30% you took to "save the company".
NO.
3. If the company is out of the red and making money after 2 years, you restore wages and we move on.
NO.
If they didnt agree to those 3 items...kiss my ass, you already planned on closing the doors anyway. Negotiations over.
I'll pass on the ass kissing part, but I will take the assets, find some Mexicans, and start a new business. Or, I might sell the assets and retire someplace - maybe find a nice forclosure in Wyoming I can pick up for a song.
