View Teamsters Hertz Bankruptcy updates below
Late in the night on Friday, May 22, 2020, Hertz filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware for all its brands (Hertz, Dollar, Thrifty) in the U.S. and U.S. territories. Hertz filed bankruptcy proceedings separately in Canada but not in all of the countries it operates.
Hertz paid out millions of dollars in retention bonuses to its top executives just days before it filed for bankruptcy — and shortly after it laid off thousands of workers.
On May 22, Hertz declared bankruptcy. The Teamsters Industrial Trades Division will continue to update local unions, and the nearly 6,000 Teamsters at Hertz and its affiliates, on key developments in the bankruptcy. We will post relevant information in this space.
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company’s business.
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 Disneyland Resort Master Services Council completed furlough negotiations with the company on April 9 which will go into effect on April 18, 2020. The council is made up of Teamsters Local 495, UFCW Local 324, SEIU-USWW and BCTGM Local 83.
“The Teamsters Union and the Industrial Trades Division have been working with our union partners and with Disney to make sure members are secure in their furlough as far as insurance, benefits, seniority and other issues,” said Bob Lennox, Secretary-Treasurer of Local 495 and co-chair of the Disneyland Master Services Council.
Teamsters and the Service Trades Council Union reached an agreement with Disney’s Florida locations regarding the company’s decision to furlough employees starting on April 19 because of the COVID-19 pandemic. The Service Trades Council is made up of Teamster, IATSE, UNITE HERE, TCU and UFCW locals who represent approximately 43,000 union workers at Disney.