The Estero-based rental car giant Hertz Global Holdings recorded $847 million in losses against $832 million dollars in revenue for the second quarter of the year.
The company filed for Chapter 11 bankruptcy protection in May amid economic losses caused by the coronavirus pandemic. Two months earlier, the Hertz Corporation laid off 12,000 employees and furloughed another 4,000 workers.
The News-Press reports, as the company attempts to work its way out of bankruptcy protection, it is cutting capital expenses as well as realigning its labor force to reflect reduced demand, cancelled orders of new fleets, and consolidated off-airport rental locations.