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Hertz Files For Bankruptcy After 16,000 Employees Were Let Go And CEO Made Over $9 Million


After 100 years in business, Hertz filed for bankruptcy on Friday, proving to be yet another casualty during Covid-19.

The old-time entity now joins the likes of J.C. Penney, J. Crew, Neiman Marcus, Gold’s Gym, Pier 1 and the McClatchy newspaper chain—companies that have all sought bankruptcy protection in recent weeks. Hertz was just another victim of the pandemic, people will say. It's easy to blame the company’s misfortunes, as well as the other corporate casualties, on the pandemic. The reality is a different story. The failures of Hertz and the others have more to ...


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