Thread regarding Hertz layoffs

I just had a look at the Hertz UK 2018 Accounts (UK .gov website) - significant loss, and 2019 was worse. The accounts are quite specific on the risks to the business - and that was in the good times, pre-coronavirus.

https://beta.companieshouse.gov.uk/company/00597994/filing-history

So maybe 'business as usual' is about right?

How anyone is of the opinion that Hertz UK has a future is a mystery to me - years of making a loss, followed by March, April, May and June with no revenue - it's going to be a disaster.

Look at how many changes of leadership there has been - and it's not like the UK Leadership team are up to the challenge...

A VP Operations that doesn't know the first thing about rental.
An Ops Director appointed on the basis of cronyism.
A Sales Director who doesn't sell, and is allowing the bad debt position to climb.
A Finance Director who is lost at sea.

About the only one who seems to have a grip on reality is the Fleet Director, but how long will he want to hang around?

Not good. Especially as we're dependant on an even less capable President and CEO to sort it out.

Stress is caused by worrying about the uncontrollable. Spend your time on the things you can impact! Then the stress goes away. You really have no says in what Hertz is going to do. Spend your time on finding your next opportunity.

You should stop stressing.
Your stress is due to your expectation of relying on your Hertz job.
Your job at Hertz will end. That's a given.
Start spending your energy on getting a new job.
Transform your stress in actions and accept to move forward.
Hertz is dead. It is a matter of months.
Good luck and have faith in yourself.

I heard that 100 locations in the UK will close.
I can’t believe it - why aren’t we being told anything officially? This is cause me so much stress I’m starting to feel sick.

Lets compare Hertz US to a patient on life support. Barely hanging onto life needing outside support to live. Europe and APAC are like organs in the large body of Hertz. Still alive due to life support. But once the life support stops and the patient dies so does its organs. The only way those organs live on is if they are harvested and implanted into a new patient. And the new patients name is Sixt. First acquiring Europe and APAC then taking on the entire body is US RAC

Interesting story from the British Financial Times...

https://www.ft.com/content/ff1f4af3-bad7-49de-b86a-cfbc1219f869

Specifically: ‘ The company has terminated two-thirds of its workforce in the belief demand is not going to return soon.’

Somehow in Europe this is not the case? Business as usual?

50% layoffs are coming to Europe. There is no business, so as soon as the Government support stops the reduction will begin.

I don’t know what you’re leadership is smoking, but they better get used to the idea of losing jobs.

It is all US. Nobody outside getting anything of the bonus. Read the 8K, exhibit 10.3 is the sample letter.
Disgusting, yes. There is small print, though. Retention is an advance on severance. If one was to be fired, any severance would be reduced by the already paid retention.

So how much of the $16.2m cut of the retention bonus did our International leadership team get? C‘mon own up, how much are you getting paid for spouting strategy, design, merit and performance?

"Yes and that might happen but it’s still based on its own merits of performance and not the US. "

Ok, so we ignore any revenue in Europe coming from the USA.
And then remember that UK, Germany and France make a loss; Italy is marginal, but had a very bad 2019. Only Spain and Benelux make money - so with your logic we shut everything apart from them.

Genius.

"You know what doesn’t help, publicly discussing the inadequacies of the entire global organisation for the world and every journalist to see. Yeah we are upset to be on furlough but it won’t help getting back to work airing our dirty laundry."

You, Madam, and your small-minded, secretive ways are exactly the reason we are in this mess right now. Let's bury the bad news so that our leadership don't get called out on the horrific mess they are making. You seriously think that you're getting back to work?

Didn't your parents tell you that you should stand up to bullies?

How many employee voice surveys would you like to see manipulated and ignored before you stood up?

Maybe more people should blow the whistle - I still might. I've got enough information on Hertz in Europe to make some really good stories for the newspapers.

So many examples in Hertz of the leadership getting away with mismanagement, dishonesty and lies - enough is enough.

Wrong.
It’s exactly the US bankruptcy that we also need to worry about.
US arm went in Chapter11 because it cannot simultaneously pay the operating and debt costs.
Debt is now protected, but operating is problematic and it is burning cash. The Holdings will need to decide where it will get new funds and where to bet in the future. And yes, it can decide to s— out EU dry in favour of the US. US at 50% is 250,000 vehicles, EU at 50% is merely 65,000.
It is more probable that we will be spun-off before any EU entity goes insolvent.
Make no mistake, we are just a marionette and have no decision power regardless of what we think we may deserve.
Regarding dirty laundry, don’t agree. One thing that the forum has shown is a genuine commonality of what we think about the calibre of the leadership. It has also shown that there is a large group with hidden, but awesome qualities that should be given a chance to step in. Don’t think any of current regime will go on their own, thus any push is good.

Yes and that might happen but it’s still based on its own merits of performance and not the US. Of course each country has their own version of chapter 11, that’s my point. Everyone here going on about chapter 11 when it’s our own bankruptcy we need to think about, not the US. You know what doesn’t help, publicly discussing the inadequacies of the entire global organisation for the world and every journalist to see. Yeah we are upset to be on furlough but it won’t help getting back to work airing our dirty laundry. Some people don’t want to leave at such a turbulent time.

We are not in freaking Turkmenistan. EU countries all have insolvency/liquidation laws and regulations equivalent to the different US Chapters.
The notion we have been left out because there is no Chapter11 in EU is wrong.
The notion that we should somehow feel secure and are independent to decide our own future is wrong.
Who do you think owns the EU liquidity arm in the Netherlands?
Who do you think are our creditors in Europe?
All linked to Hertz Global Holdings. It falls, we all follow like dominos and we sink. If we want to swim and become independent, individual entities will need to be sold by the global holdings to new owners. But then a different set of problems starts.

International is not part of chapter 11 US bankruptcy because US law is not UK or European law. International will be decided upon on its own merits’. This is true because no one said whether it’s sink or swim.

Hertz will not survive in Europe.
It will be saved in the US but will be a small player compared to Enterprise and Avis.
It will be sold in Europe, making Sixt the #1 or 2 player.
Then Sixt will progressively expand it's network in North America.
And all these liar SMT will not give a sh-t because they'll be relaxing on their holiday property.
As for the poor naive laid off employees, you will look at the past with tears in your eyes.
People need to wake up and stop being sheeps.
How can abused employees support crooked managers?

I think that post on European Strategy and Chapter 11 may have been Alida (Scholtz - Germany GM).

She lives in LaLaLand.

Happy Birthday Alida - star sign Gemini.

Here are the character traits of this zodiac sign:

Inconsistent

Geminis find it hard to stay at one place. They can develop a hobby real quicky but will drop it at the blink of an eye. They are inconsistent in many areas of life and this doesn't serve them very well. Stability is important in life.

Double-Faced

Geminis are known to have two sides to their personality. One that they show people and the other, hidden side that they seldom show to others. This hidden side is what they really are and when it is revealed, people find it hard to accept.

Indecisive

Geminis absolutely hate taking decisions and they are generally not very good at it. In a relationship, they will prefer a partner who does all the homework and takes decisions for both of them.

Overly Anxious

A little anxiety is good but a lot of it can be disastrous. Geminis tend to get overly anxious about any important event of their life and this is the reason that they aren't able to perform their best under pressure.

Judgemental

Geminis will generally judge others on basis of superficial information. They will hardly put any effort to verify the information and just believe whatever someone tells them about a particular person.

Wild Brav is posting on here or at minimal had someone do it!

The European Strategy will be designed on its own merits!!

Chapter 7 won’t have any effect on us?

MENTAL and yes we absolutely want you out because this is exactly the reason we will fail because your living in a fantasy world and are still worried about YOU, Clueless is an understatement..Same as the St Patrick’s Party c-ap while Italy was dying!!!

A Month ago YOU said YOU would never invest in Hertz..shame on you..

So wait your saying if the US go through a Chapter 7 it won’t effect Europe and APAC.

What absolute BS Hertz is a Brand if the US goes down everything goes down, this comment was absolutely posted by one of the incompetent leaders we want sacked....being fed on daily BS from the id–t in the Ivory tower...

This is the problem in Europe none of you have a clue what’s actually true, as the Brav said I’m not communicating because I don’t know what to say..

God this is almost the dumbest post I’ve seen on here..

‘Also chapter 11 and chapter 7 are irrelevant outside of North America. The European strategy will be designed on its own merits, performance and government interventions, not North America’s.’

This last post can only have been written by a member of our current ‘leadershit’.

Ch11 + 7 IRRELEVANT.

HOW FARKING IGNORANT ARE YOU, MADAM?

Please god that you are not one of those involved in creating the ‘strategy’.

Nayan - is that you? David? Àngela? Somebody else whose name I don’t recall.

FARKING STOOPIDEST POST I HAVE READ ON HERE!!!

On one hand you want incompetent employees fired and on the other you’re moaning that hertz are letting people go and it ‘won’t be the same’. Honestly make your mind up. Also chapter 11 and chapter 7 are irrelevant outside of North America. The European strategy will be designed on its own merits, performance and government interventions, not North America’s.

nobody is hating hertz.
nobody is winging.
i have a great life, thank you.
merely pointing out that as much as one wishes and positively reinforces 2+2 to equal 6, it is 4 every single time.
but kerr and others continue to ignore.
hertz may well survive this, but not all of us will. leadership consists of formulating the problem, knowing where you are, where you want to go and most importantly, how you are going to get there. so when one brags “business as usual,” they haven’t even grasped the problem.
chapter11 supports viable business models that have encountered temporary cash constraints. drastically reduced income is not viable. 2+2=4 because in the next months, we will burn all the cash we have. we will counter by selling anything of value and do mass headcount reduction with severance, but it will not be enough. the skies are nearly empty, long-haul is gone, summer leisure is gone and after weeks in home office, corporates understood that internal meetings don’t require travel. chapter11 turns quickly to chapter7 unless we get a financial injection to extend the misery. and maybe by Q2 2021 hertz can be 10,000 employees and 250,000 vehicles globally.
nothing “usual” about it.

He’s a joke he’s been here like 3 months most of the time the business has been in crisis, he does not even know what normal is that’s the funny part what actually is business as normal David??

He’s spewing the c-ap he’s told instead of being decent and honest it’s disgusting, 90% of our leadership team is useless it’s alarming!!!

What was said that wasn't true and what was your follow up question?

Ha ha we had that same stupid talk today and then watched him stutter when I questioned what he said I knew wasn’t true. Then asked a follow up question I knew the answer to and he folded. Not that I have privileged information, they are a publicly traded company. Just follow the paper trail

All you m—ers stop hating Hertz will survive this. Get a f—ing life

David should rename to w—rrr.
All the other twats posting the same have just burnt their careers. With smart employers, at least. Try to dodge interview questions that you were posting “business as usual” with the company going from insolvency to liquidation in the next 4 months. Truly oblivious to reality and not leadership material.

Remember when we were told to post our own great reviews of how great Hertz is on sites like Glassdoor. Well looks like Paul has everyone posting on the their linked in profiles on how Hertz will overcome, and how they are ready for the challenge..... too funny.

The business as usual message is being shared by quite a few leaders and colleagues. Must be standard blurb from communications. Same team that disclosed all the personal emails of UK furloughed staff.

The business as usual message is being shared by quite a few leaders and colleagues. Must be standard blurb from communications. Same team that disclosed all the personal emails of UK furloughed staff.

You are correct that Hertz will not be the same company. It will not survive so long as it is run by narrow-minded, self-centered individuals motivated by greed. Mr. Kerr is obviously deluded if he believes things are "business as usual" at Hertz. He, the other senior executives, and private equity owners have lost sight of the company's mission and reason for being.. They all deserve to get pink-slipped if they can't see this fact. The company needs to get back to the basics of renting cars. When Vince Lombardi first took over the struggling Green Bay Packers, he began his pre-season training session by holding up a football with the words, "Gentlemen, this is a football." He would go over the basics of what a football is and its role in the game. He would go over the basics of the game, explaining rules and organization of players. Lombardi did this every season and turned the Packers into a consistent winning team. The question is, why spend time on the basics of the game when everyone knew them? Because they forgot them just like Hertz has. I worked for Hertz for over 20 years. I witnessed the company get increasingly bogged down with malignant programs, schemes, rules and regulations as the years went by, many under threat of termination if they were not strictly adhered to. Front-line folks, including myself, struggled to keep up with them. They also frustrated and confused our loyal clientele. Hertz must get back to basics if it is to survive. The pandemic has presented Hertz with a golden opportunity to reconstitute itself back to a great company. Vince Lombardi also said "It’s not whether you get knocked down, it’s whether you get up.” Are you listening Mr. Stone?

Lots of other senior leaders posting the same message. Why not include that they are going to scr@w most UK employees as well?!

A prime example of how disconnected the senior executives are of the situation. He means "business as usual" for him by doing nothing and raking in big checks. Unless someone bold comes in to purge the trash unfortunately nothing will change. Paul is not the man for the job. He will keep status quo be keeping the same team around him. We need a deep cleaning of all senior leader.