Hostess Brands and the Bakery, Confectionery, Tobacco Workers and Grain Millers’ International Union agreed to mediate on Monday, according to a tweet from CNBC. The agreement will reportedly prevent a Hostess liquidation, which the company announced Friday could be imminent.

The Bakers’ Union had been fighting a proposal to significantly cut worker pay and pensions, and Hostess claimed that the striking workers made it impossible for the company to produce its products.

h/t: Huffington Post