Thread regarding Hertz layoffs

10 Years ago it was the employees at Dollar and Thrifty Rental Car (DTG)

Hertz bought DTG for $85 a share in October 2012! It caused Hertz to borrow $2 billion to complete the deal. The hedge funds, venture funds and DTG officers all made out very well. The CEO got his $25 million payout with all corporate officers getting millions. The managers and workers below corporate were given next to nothing. Their severance plan was based on their employment grade not years of service. Thus long time employees (20+) in grades below manager got 4 weeks pay. Midgrade managers got 8 weeks and City level management got 12-16 weeks. Now it is the Hertz employees turn. I feel your pain and wish there is something that could be done. But this "slide" began 10 years ago and is just hitting the bottom.

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Many people rode that gravy train as long as they could. They hung on for their dear lives. Like all rides they must come to an end

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