Hank and Mike examines downsizing in corporate America through an offbeat tale of two friends who work for a company that owns all the holidays. Dressed as Easter rabbits, Hank (Thomas Michael) and Mike (Paolo Mancini ) work one day a year delivering chocolate eggs to children. The penny-pinching head of the company (Chris Klein) wants to cut costs and seizes an opportunity to fire them when they accidentally skip over a house on their delivery route. Hank and Mike try to think of other jobs that they can do while wearing their rabbit suits. Dressed in grubby pink fur, Hank is a hard-drinking, chain-smoking, womanizing, foul-mouthed opportunist who takes a shot at karaoke. Mike, on the other hand, is heartbroken about not being able to be the Easter bunny and can't move past being fired. Being unemployed with no other skills, the situation strains their friendship as they struggle to get their old jobs back.