Hostess Gives Execs Big Bonus, Fires 18,000 Workers

A federal bankruptcy judge has approved nearly two million dollars in bonuses for executives.
0:52 | 11/30/12

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Transcript for Hostess Gives Execs Big Bonus, Fires 18,000 Workers
Hostess the company that makes twinkies among other products is in fact shutting down. And so eliminating some 181000 jobs in the process however we've just learned that unlike the rank and file the company's executives. Are about to score a major payday. NBC's -- -- is here to explain why good morning to you -- Josh good morning to you what federal bankruptcy judge has approved nearly two million dollars in bonuses for executives of hostess brands the maker of twinkies and ho -- On the same day approving the firing of 181000 workers the company also told -- Thursday they are -- half staff. It won't be able to -- retirement benefits for some former employees. In a statement overnight police said -- millions of dollars in bonuses. Are designed to keep top brass from leaving before winding down what's left of the company but some angered employees say this is exactly. What's wrong with corporate America.

This transcript has been automatically generated and may not be 100% accurate.

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