Hertz Global Holdings Inc. and Avis Budget Group Inc. are beginning to lay off workers to cut costs while pressing the federal government to consider including their sector in any federal assistance provided to travel-related companies.
Hertz started furloughs at midnight on March 21, Paul Stone, COO for the company’s North American operations, wrote in an internal memo. Avis is shedding staff as part of more than $400 million in annualized cost reductions announced in a statement Monday.
A Hertz spokeswoman confirmed the authenticity of Stone’s memo. Neither company released details on how many employees they’re laying off.
The job cuts come days after Hertz CEO Kathryn Marinello and her peers at Avis and Enterprise Holdings Inc. asked the U.S. Treasury Department to include their companies in an aid package for airlines and other businesses whose operations have been decimated by travel curbs that span the globe. They’re seeking grants to help address liquidity issues…
