In July 2012, the "New York Post" reported that negotiations with the Teamsters Union, led by Silver Point Capital, were close to an agreement allowing Hostess Brands to cut employee pay and benefits if the company continued funding its pension plans. In May, as required by the Worker Adjustment and Retraining Notification Act, the company's 19,000 workers were warned of a possible layoff. In an email to the Marysville, California "Appeal-Democrat", Hostess spokesman Erik Halvorson wrote that the May notices were to alert employees to a possible sale of the company but "our goal is still to emerge from bankruptcy as a growing company with a strong future". Although the layoff notices listed July 7–21 as dates, on July 5 another company spokesman told the "Financial News & Daily Record" that there were no immediate plans to lay off Hostess employees.