U.S. car rental company Hertz to lay off 10,000 staff

(Reuters) – U.S. car rental company Hertz Global Holdings Inc said on Monday it plans to lay off 10,000 employees to cut costs amid the economic fallout of the COVID-19 pandemic.

The company will incur employee termination costs of about $30 million, it said in a regulatory filing. (https://bit.ly/2XOWUEu)

The terminations were effective April 14 for non-union employees and effective April 21 for union employees, the company said.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)