Hertz ($HTZ) is trying to find its way in an economy that doesn't move around. So far, the more than 100-year-old car rental company has furloughed some employees and laid off others, seen its stock take a hit, and now CEO Kathryn V. Marinello has chosen to forgo her entire salary. This has all resulted in rumors of bankruptcy.
“There is still no clear picture of when travel trends will begin to rebound and to what degree," Marinello said in a statement to the press. "Like the rest of the global travel sector, COVID-19’s impact on Hertz arrived swiftly, and the reversal in customer demand has been significant.”
Hertz's troubles are perhaps best seen in how it's almost completely shut down all hiring efforts.
Job postings were in the thousands at the start of March, and now just 20 listings are available online, mostly for Branch Managers and Sales Representatives, ostensibly positions that will hit the ground running once people begin renting cars again.
According to employees on LinkedIn, the Hertz workforce sits at roughly 21,000. As hard as it is to imagine, there are a lot of people in danger of losing their jobs if Hertz goes under. Travel bans and closures around the world mean there is very little reason to rent a car right now.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.