He admitted at townhalls with the employees that there was plenty of blame for the company's current circumstances to go all around
Did he offer to take the same pay cut labor was going to suffer? Did he extend that offer to the rest of the executive staff? If not, he's far more to blame than the bakers. You can't blame the bakers for refusing an unfair offer.
From further up, it seems he was on a $1 a year salary, along with his top 3 executives.