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The company, which gets most of its income from car rental at airports, said it was hit by the sharp drop in world travel, the BBC reports.
According to the company report, Hertz and its subsidiaries will continue to operate. The company claims that Hertz’s main operating regions, including Europe, Australia and New Zealand, have not been included in the US cases.
The company, which started operating in Chicago a century ago with a dozen cars in response to the pandemic, has either gone on vacation or laid off 20,000 workers, or about half of its global workforce. Her manager resigned last week.
“The impact of Covid-19 on travel demand has been drastic and dramatic, resulting in a sharp drop in company revenue and future bookings,” Hertz officials said Friday.
The company said that while it had taken “immediate steps to prioritize the health and safety of employees and customers, eliminate all non-essential costs and preserve liquidity,” uncertainty about whether and when the market would recover led to your decision.
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