It is being reported that Hertz is seeking government aid through the coronavirus bailout package to avoid bankruptcy. Hertz employs Teamsters at locations around the country.
The company has already reduced the workforce to 10 percent, including management.
“Teamsters are in discussions with our local unions and the company about furloughs and extensions of benefits for our members,” said Bob Lennox, Western Region Industrial Trades Director. Lennox, who is also Secretary-Treasurer of Local 495 in West Covina, Calif., represents Hertz workers at his local. “We are still working to ensure those still working are doing so safely.”
The New York Post reported that Hertz Global Holdings faces a $1 billion to $1.5 billion budget shortfall as the COVID-19 pandemic has slashed their business. According to financial records, the publicly traded car-rental chain only has $1 billion in cash on hand to make good on that debt.