Hertz board approves executives bonuses weeks after exiting bankruptcy — and a year after massive job cuts

The Hertz Corp.'s board of directors has approved retention bonuses for four senior executives to stay on through the year

By Louis Llovio
| 5:08 p.m. August 17, 2021
| 0 Free Articles Remaining!

FILE: Hertz's board of directors approves bonuses for senior managers

Charlotte–Lee–Collier

ESTERO — Nearly 45 days after The Hertz Corp. emerged from bankruptcy, the company’s board approved more than $3 million in retention bonuses for four senior executives.

The bonuses, approved by the board Aug. 16, are being paid after the company spent a year in bankruptcy, a process that saw almost $5 billion in debt wiped away, and after cutting 14,400 jobs —1,046 jobs in Florida — in 2020.