Company lays off 10,000 employees, takes $30M loss

ESTERO — Rental car giant Hertz Global Holdings continues to struggle to gain traction amid the travel business shutdown caused by the coronavirus pandemic. The latest: it recently laid off some 10,000 employees — more than 25% of its worldwide workforce of 38,000 people.  

The terminations were effective April 14 for non-union employees and April 21 for union employees, according to a public company document Hertz filed with the Securities and Exchange Commission. The latest layoffs come soon after the Estero-based company made other cost-cutting moves, including substantially reducing capital expenditures; consolidating local rental locations in the U.S. and Europe; and reducing executive pay.