Thread regarding Hertz layoffs

Unethical for any bonuses to be paid while receiving millions in government support across Europe and laying off long serving employees. Any company with integrity would repay furlough support before paying bonuses to an invisible leadership team (ILT).

Something nice for reply #500. Thank you Angela and team for your super guidance. We couldn’t have survived this without you. Such a great outcome. You inspire me and motivate me to give my best every day. Great example of this was you getting millions in bonus, while I got one free day for dealing with disgruntled customers. I feel so proud and honoured to work for Hertz.

We’re doing the right stuff. Putting ourselves first regardless of the consequences to the business and the people.

You’ve seen the headlines about executive bonuses......... I’m doing very well thank you and may I add for very little work.

Just waiting for the new owners to pay me off and I’ll be made for life (again).

No matter what is written it’s all about me, me, me and I’ll take it for my big fat salary.

Love you all

Didn't they get rid or Taylor and Monk?

They got stuff done, but is it the Right Stuff Done?

So many people have gone or have left, the size of the business must be fractional compared with what it was.

Neither I nor my manager work for Hertz today.

Hey Anonymous, you wrote the original thread a year ago - are you and your manager ok, and still with Hertz?

Since when does being pushed out make them clever? It’s not like they had a choice. 2 failing GM’s and a valueless rejected non-CFO. Dead wood. Time for the rest to go, and that’s exactly what Apollo will do.

I don’t know who Monk is, but I hear from my friends in Europe that Bavin is gone. About time. Too many chiefs and not enough profits over there - the entire leadership structure needs urgent review, reduction and fresh talent.

Bye bye Monk. Another one bites the dust!
Not a surprise. Baggage handling in the desert doesn’t quite prepare you for VP Operations. You successfully lowered price, rented vans for peanuts to high risk customers (watch PL/PD bite us in the back side next) and shrunk UK to insignificant. If the goal was to make us a takeover target, top marks for that. Welcome Thrifty UK!
Hayward as successor is adding insult to injury.

The plan to bring HR to U.K.?

I’m not sure the ILT has a plan, they are just bouncing from one crisis to the next, they have paid for these redundancies by selling cars, but now they can’t buy new cars.

They have no Money but also the OEM’s are not selling to rental? And unfortunately given the vast leadership experience the current ILT lacks in the rental space the royally messed it up.

The budget is out the window and if the summer holiday window does open in Europe Hertz has no cars???

Angela has gone silent as you notice no town halls, no awful news letter updates, and definitely no Q&A, and Paul seems to be obviously to the impending doom, anyone who wishes to debate these facts can come on here and do so, but people you on a ship where the captain is drunk blind and never learned to drive and somehow you believe it’s going to improve? These redundancy’s will continue unless you start asking the right questions instead of just following blindly to the end. And as for your representative’s and EWC they have no idea of the reality. And if you think these people are not leaving because they believe the future is bright, wrong they are just milking it for every last penny they can get, today I have written to Paul it will probably be ignored but if you all do, just ask him to look at the fleet situation in comparative to the current forecast and do the maths? Nothing else is required..

It was 205 in Hesc and about 30 of those were for HR, who did alot of the work for all Europe corp countries including UK. Think the plan is to bring about of the HR duties back to each Country.

Does anyone know how many were made redundant in HESC/HEL/U.K.?

And why are they hiring HR in U.K./HEL? Surely less heads = less HR needed (not that they did much).

Employees made redundant this week we’re identified months ago, based on purely subjective criteria and whether or not they were favourites of the leadership.

The mention of SAR’s on this website put the fear into HR and legal.

For the last few weeks line managers have had to run fictitious interview and selection processes to validate the candidate lists that were made months ago.

I made my list, and have hated every moment of the last few weeks. I am disgusted with this company, and I will leave at the earliest opportunity.

Does that fit your definition of treated with respect? Hertz doesn’t know the meaning of the word, and the posts on LinkedIn make me feel even worse.

So very sad to see all of the farewell messages on LinkedIn and social media. Incredibly loyal, talented, dedicated individuals .
I hope they have been treated with respect and remunerated in line with their hard work and dedication.

Us folks in Hesc Dublin got our money through today and it feels great. On to bigger and brighter things! Thanks for the last 15 years Hertz

That’s all folks…
No idea how many of my colleagues got pushed this week - I just hope all the directors who seemed to be untouched are able to run the company without any people who actually do the work.

Happening right now, outcomes being delivered across this week to those affected.

When/are there any redundancies happening this month in the UK ?

So apparently posts that mention financials get taken down?

However latest and greatest from our leadership is they have not managed to secure the fleet we need for the summer?

So basically the numbers will only get worse.

However Bryn as an experienced head of fleet will recover this? I doubt it.

Hold on the ride will get worse??

If there was any truth in the previous vague post then you just confirmed it, DarkWing.

There must be something to worry about, otherwise you wouldn’t have come on here playing the ‘so unprofessional’ card.

FYI, professional reporting of results for Hertz Europe is typically years of misdisclosures followed by bare-faced untruths and then uncomfortable realisation of the facts. It would be nice to get some real facts instead of the propaganda videos from Angela Brav and Raffles.

So I think the massive losses and mindless hope must be true. No great surprise though as the massive wingers in leadership are sitting around on full salaries winging each other off.

Enjoy.

Everything is going to be fine, apparently.

Who knew?

Turn the light off and lock the door on your way out.

Angela Brav.

As with most PE ventures they will invest and then load the business with debt, then to get their investment back they will asset strip whatever they can wherever they can as they tend to bail when they’ve made their money and the business is very rarely left in a better position.

What happened to all the redundancies they were supposed to make in HEL?

I would be yay’s biggest fan, but I do have a brain and an average understanding of financials.
All the new sponsors/owners are doing is changing the capital and debt structure. Without a doubt great news for the corporation and brands. The commitment to have EU debt free is awesome.
Being debt free and satisfying current creditors leaves the tiny, minuscule problem of little revenue and high costs. As previous post says, we cannot turn profit and our EBITDA is negative. Historically, we have been on falling revenue, rising costs regardless of Covid.
I do have a better than average understanding of what private equity will do to change the equation and it will not be employee friendly. They may end up like Icahn loosing billions, but new sponsors will not be laissez faire like Icahn was. Warburg being the biggest shark in the tank, they will squeeze every last penny out of us. Girona’s style will be a tamed pu–ycat compared to what is coming. Admittedly some long needed management and cultural changes at last, but if you thought our jobs got safer because of the announcement, you are indeed delirious.

Firstly Europe was never in the Chapter 11? However it's still loosing millions a month, no matter who the owner is they won't continue to accept this level of loss.

Also until the Judge agrees no deal is done, and I'm sure Hertz as a name will survive, however with any Private equity owner the expectations will be excessive..remember Chapter 11 is designed to stop a company going bankrupt under the proposed new owners who are also the current highest creditors how do you know they won't sell it piece by piece? Perhaps do your homework before coming on here and being rude.

And if you think Europe will be profitable under it's current leadership, your as mad as them, welcome to Barbies plastic fantastic fantasy world you have been accepted as a loyal fan.

No comments regarding the accepted proposal to bring the company out of Chapter 11? Or are the naysayers so unhappy the company will survive??

Angela Brav is a permanent April Fools joke?

It was an April fools joke, folks..... But the result is the same......

Is this an April fools joke?

I want to get excited and frankly I don’t care who’s running the show as long as the plastic, rude, useless egotistical narcissistic leader is going?

Please spill more details, but i wold say the replacement is Adam’s not Rafael?

I hope for the sake of the business and the employees that Ms Brav is departing, but I doubt it. Then again what's the saying about rats and sinking ships?

Its sad to watch an iconic brand turn to dust , a brand that has survived a world war, the great depression , the economic turndown in the early 90's , conflict in the Middle East and much more

A brand that had integrity, a respected brand has been brought to its knees in Europe by a tiny talentless woman with a huge ego.

you cannot casually drop brav leaving and not give details. in my humble view, i take rafa any day for the simple reason that at least he expresses a position and opinion on most things while brav doesn’t. sure he polarizes and bullies, but better to deal with a somewhat experienced tyrant than no competence wannabe that has been a waste of space since the beginning.

do spill some more beans please.

Ok . Everybody here is complaining about Angelina. Now that she is moving outside Hertz will see how you will feel with Rafael Nadalione as the new Boss!
Good luck folks . In 4 weeks will say bye bye to Angelina

“ Also none of the leadership team or the level below them have left. Surely if cash was indeed running out we would see at least one of them jumping ship?”

Seriously, who are you? The latest members of the leadership team are new to the car rental business and came from hotels and airlines. I don’t know if you noticed, but they’re not exactly recruiting right now, so where to you think they will go? It’s not like they’ve got a great story to tell about their successes in hertz, and let’s face it we know they aren’t very talented. They’re going nowhere fast.

Then you’ve got the legacy employees in the leadership and one-downs. They’ve only known hertz, and they are super comfortable with their non-fourloughed mega salaries and pensions. They’re not exactly well placed to find roles, and anyway they’re convinced they’ll get paid out, so they can worry about it later.

And finally, people are leaving - the good ones, the ones that can find jobs. Managers, Directors, Senior Directors, VP’s, SVP’s. They’ve been leaving Hertz for a few years now, and they’ve been replaced by the talent that Hertz has today.

So I guess you’re new to this, but go ask about. Try and dig out an org chart from 5 years ago and look at the turnover. It’s horrible. Take a look at the senior roles in the U.K. - how many GM’s, sales directors, fleet directors, and Finace directors do you think a great company would lose in this time? And each time the replacement is either a barely capable in house promotion or a dismal external hire. HEL is no different.

What a mess.

I get your points Bo Jo but I think there’s hope yet. I mean look at the recent promotions. Also none of the leadership team or the level below them have left. Surely if cash was indeed running out we would see at least one of them jumping ship?

You will not get a definitive date, but the end is near. Cash flow projection is worst kept secret. Timeline has been moving due to several factors: cashing in our fleet, more employees on government support and other significant one offs like tax and payment deferrals.
Eventually, we will go under. Don’t let the moving date lull you into false sense of security that we will survive. Majority of us will need a new job and if you haven’t done so, start looking.

Titanic warning? Didn’t we have these warnings...money will run out in June, then august, then December....now April? We have survived so far. It’s difficult to believe the naysayers these days. I think unless you are part of the senior team you have no idea what’s happening!

Time is running out, cash flow is almost done AB was done before she began.

But it’s looking as though just as the US pull themselves from bankruptcy Europe will nose dive straight in. We have not had a correction to AB last letter telling us what a wonderful job she’s done securing funding, and on the back of her letter promoting her sheep in to bigger roles. But like everything we have heard since Barbie arrived it was lies.

So come on Barbie Brav let’s have the real story?? You have secured your own financial interest and are about to press the implode button on everything else..April end is D day for the rest of us and if you think that’s coming with a redundancy deal it’s not except Barbie’s right Angie, let’s start telling the truth to the people, whom in your own words, I don’t really know these people so it’s difficult to be empathetic, they can see what’s going on so if they want to go down with the ship that’s up to them, I’m to busy to deal with it.

Are all directors and senior managers remaining in HESC? Got to admire the hypocrisy of telling the soldiers they have no jobs, but still need the same amount of generals... How about 3 GMs for 6 countries? That’s in line with 50% volume down.