Hertz is a one-stop shop for American corporate shortcomings.
Eventually, a Hertz representative reached out to her and agreed to refund what she says was the ultimate overcharge of $548.07 for the car she eventually got, but not the $133.51 in Uber charges she incurred traveling from location to location to pick up a car on Hertz employees’ instructions.It’s certainly true that the collapse of demand during the pandemic had much to do with the company‘s decline. In March 2020 it began laying off or furloughing 20,000 employees, half its payroll.
By 2017, Hertz was in the red, its shares notching double-digit percentage drops day by day. Its market capitalization fell from $5.5 billion before the acquisition to $1 billion by May 2017 and its debt soared, reaching $17 billion just before the bankruptcy filing.
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