Hostess is the company that brings us chocolate Ding-Dongs in those shiny aluminum wrappers and white and pink coconut snowballs in packs of three. Fruit pastries and powdered donuts that lie on the shelves at your local supermarket are often the product of a Hostess factory. Most famously, Hostess brings us the delectable, cream-filled Twinkie. Yet Hostess is not selling enough tasty snacks to compensate for their financial losses over the years. In order to make ends meet, Hostess proposed cutting worker's wages but this didn't go over very well.

Employees of the Hostess Company retaliated when their salaries went on the line in an attempt to refinance the corporation. One union official who represents these workers told NBC that he doesn't believe that the executives and workers will come to an agreement over worker's contracts any time soon. If too much time passes then it is inevitable that Hostess will wind up in a bankruptcy court once again. The company plans to ask the court to eradicate remove union worker's contracts if the employee's won't accept the cuts in salary this week. Hostess says that this is their "final" offer. If worker's refuse, then the company will need to make other means.

Hostess officially filed for bankruptcy protection in January because of the rising competition and pension and medical costs. Also, the economic slump may have deterred consumers from spending extra cash on the tasty treats Hostess manufactures. Whatever the factors, Hostess is in a precarious position. Union workers say that if they are threatened with wages cuts, they will walk away from the company. When/if this happens, it will cost Hostess to fold. The company CEO says that they will need to shut down Hostess and liquidate the assets.

Union workers sent the CEO of Hostess a counter-offer on Sunday night, but don't expect to hear back. A Hostess representative says that the counter-offer does not provide a way out of Chapter 11 bankruptcy. In order to climb out of their current state, Hostess will need to raise at least $400 million from current lenders or new investors, and experience salary cuts. They plan raise some of the money they need by selling off their brands. They also intend to lower all workers' wages and suspend pension plans. Another budget-cutting option is to outsource some delivery work.

These changes were met with resistance. Union workers were enraged, considering that 11 Hostess executives were granted pay hikes of 80 percent last summer. According to NBC, the executives have all agreed to sharp salary cuts since then, or left the company. Still, the workers do not seem to be interested in sticking around when their wages are lower than ever. Hostess has about 19,000 employees and all but 3,100 are unionized. This means that they have higher pension and medical benefit costs than competitors with non-union work forces. Losing all their union workers would create a serious issue for Hostess- an issue that they doubt they could recover from. The company is based in Irving, Texas.

One union known as Teamsters represents about 7,500 of the workers. They have been working closely with a union known as the Bakery, Confectionary, Tobacco Workers and Grain Millers Union. Teamsters counter-offer to the pay cuts involved $150 million in concessions per year, along with the suspension of pension contributions until next summer. Then, Teamsters wants to put controls in place so that they can ensure that the company won't squander concessions. If they are not given their way, all Teamsters union workers have already determined that they will walk off the job.