Thread regarding Hertz layoffs

It WILL get approved. They will lie and say these folks are needed. Isn't that what the retention payout was for. Give our increased that we worked hard to obtain and stop the greed at the top.

These high payout to senior leaders for doing their jobs are really not needed. P. S. stop being greedy as the leader of the company. Lead by example and say no ... make it predicated on getting us out bankruptcy versus easy to hit targets.

Considering all the executives leaving the company lately I think the 5.4M will become 5.4k...

Hertz is starting to be obvious about how little it cares about the front line workers. They expect us to bust our a$$ so they can secure a bonus. —ck that! Just keep my check coming, but you get no extra effort at all. This company will withhold our earned raises while adding extra jobs without the slightest compensation, all in the name of bankruptcy! This company is so done!

I am guessing the courts have to approve this. Whatever judge green lights this in f—ing insane.

No one will offered a lump sum pay out of pension anymore since the program is not 80% funded anymore. Sorry peps they spent some of the money.

The bloated Hertz jet loaded beyond belief with billions of pounds of debt is losing altitude fast. The last working engine is sputtering, the fuel gauge is on empty, and the only trained Senior Leader that was a good navigator bailed out in a parachute at 5,000 feet. Hillbilly Paul is at the controls trying to figure out what all the interesting looking switches, levers, and gauges are for while on the phone with his corrupt minions checking the balances of the Hertz accounts and dreaming up new excuses to withdraw the remaining $$$ so he can buy more hunting and fishing gear at Cabella's. Only fools will wait until impact. Get out now before you realize your parachute was stolen too.

I received a letter stating per federal bankruptcy requirements I could not take a lump sum distribution of my pension as well. The paperwork indicated that would clear once the bankruptcy had come to completion.

Taking a full payout of his pension is is required option by law. He must be not listening correctly. He needs to request the paperwork for a lump sum payout. If he has already started collecting his pension, he can not change the distribution type. Everyone, always take the lump sum payout.

I had to put in a claim for my severance pay still owed to me.....
I spoke to an employee who had been with Hertz since he was 19 yrs old.He is now 76
And has just retired
Hertz will not allow him to withdrawal his pension in a lump sum...
They will only release it in monthly payments...
That means he would have to live another 20 years to get his $$$$
Now they want more money???
They need to give their bonus and incentives to those who were loyal to Hertz their entire lives and are now facing serious hardship through no fault of their own.....Really

CFO was the only real person on the C-team that actually knew what was going on and what needed to happen even though he had only been there for a little over a year and he was the only one to which I would give any respect to. Nice job by him leaving with his professional integrity. THe CEO was clueless on how to run the company and ran around saying she worked for GE like that was a badge of honor. The CIO and her All-State gang of testers was even worse with no justification to hold her position within the company.

CEO has never been in a real high caliber leadership position. Was a lifer from Walmart and then had a brief stint with another retailer in a operational leadership role. He knows he was never really qualified to run a complex "once fortune 500 company". At his age and the stain of leading Hertz to liquidation on his Linkedin profile, he made the decision to enrich himself because he knows that he will have no chance of ever working in any serious leadership role again.

They need to be adequately incentivized? The last shred of any respect for these people shot to hell!

“It is essential that the debtors’ management remain motivated and be adequately incentivized to accomplish the new and difficult tasks before them,”

Boss comes to work in a brand new Porsche. One of the subordinates comments “wow, nice wheels.“ Boss replies “if you work very hard and make lots of personal sacrifices, I will get another one next year.“

Worked for the company for about 4 years a a mid-level position in Estero and left the company in 2018. Main reason I left was the favoritism and horrible culture in management. This money grab is the clearest indication that the Senior Leaders know that a full liquidation is on the horizon. 6 more months of COVID will be the death sentence for the Hertz.

Makes me want to vomit. Disgusting. I hope the judge sees right through this nonsense and laughs in their faces. Do these people sit around all day dreaming up ways to take in more money for themselves? All the while barking out orders to the field to work harder with and for less. Oh and by the way, we're not paying you any more. No 401k match, no merit increase you were suppose to get in March, no retention bonus for all the WONDERFUL "2's" they kept to keep the company afloat, and no quarterly bonuses. Everyone is suppose to be ok with this because remember boys and girls, the company is in bankruptcy. Give me a f—ing break.

The CFO left because he wanted to have nothing to do with this. He's looking for his next career, rather than be the guy known as an accomplice to this robbery. Paul Stone and McPherson on the other hand are looking for their retirement after the ship sinks. I can't see how the judge could possibly approve this

So let’s hear it for the hard working exec’s who need another big payout to keep themselves motivated!!

Have to give it to them though, this is corporate looting and they are asking a judge to approve it, legality making it ok.

If anyone still has any respect for Stone and his team I feel pity, he’s shameless while f over the employees.

And wait what about the people who had there severance capped at 16k with 40 years service and had to file in court for the rest, criminals we work from criminals I’m disgusted..