As happy as I am to see the changing of the guard in some of the key department heads I am blown away at the money we are throwing away. Each team member let go was compensated significantly to go away then those stepping in where given generous increases more than their predecessors were making. Are we in bankruptcy?
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wait until the bankruptcy committee slices everyone's pay by 50%. that is when Hertz hurts
Right, but at least they are still getting paychecks while the rest of us are scrambling to make ends meet.
Initial comment regarding pay and severance is not accurate. Stone, Mcpherson and L. Smith are being paid significantly less than Kathy, Stone and Allen were being paid before Chapter 11 filing in the same roles. This is public information. Employees who have left at Hertz request since the Chapter 11 filing are screwed out of their pre-filing severance. Again, this is public information. Some executives who were laid off before the Chapter 11 filing lost their expected severance. So, Board of Directors using its power to screw employees in director and above positions. The so called retention bonuses paid before bankruptcy filing were pennies on the dollar for what severance would have been under pre-bankruptcy rules. Go read the filings. Now is not a good time to be a senior manager at Hertz. No raise, no bonus, no severance. #ItHurts