Bankrupt Hertz seeks $5.4M in executive bonuses – By Julia Musto (FOX Business) / Aug 29 2020
Top employees could rake in a total sum of $30 million before and after the company filed for chapter 11 bankruptcy
Just months after Hertz Global Holdings Inc. shelled out $16.2 million in extra pay meant to keep executives from leaving as the coronavirus pandemic decimated the travel industry, the car rental company wants to pass out $14.6 million more in bonuses.
Prior to filing for Chapter 11 bankruptcy in May, the company laid off thousands of employees while handing out retention bonuses or “stay pay” to leaders.
At the beginning of the month, the company raised $29 million, selling its likely worthless stock before regulators at the Securities and Exchange Commission raised questions.
Continue to article: https://www.foxbusiness.com/economy/bankrupt-hertz-seeks-5-4m-in-executive-bonuses
