Car-rental giant Hertz is laying off 10,000 employees in North America in the wake of the coronavirus’s massive hit to tourism, the company said Tuesday.
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Hertz said the downsizing, equivalent to 26.3 percent of its global workforce, was necessary following increased cancelations and declining forward bookings as travel and tourism slows to a crawl.
The company disclosed the job cuts in a securities filing, saying the cuts were effective April 14 for non-union staff and April 21 for unionized workers.
Hertz expects to spend $30 million connected to the action, mostly on severance payments.
AFRICA TODAY NEWS, NEW YORK