Photo via Wikimedia Commons/travelarz. Enterprise Holdings has laid off over 2,000 employees in Missouri, most of them will be permanent. Layoffs began Thursday. The layoffs were posted as notices on the state of Missouri website under the Worker Adjustment and Retraining Notification Act (WARN Act). The layoffs affect workers with the Enterprise Rent-A-Car, National Car… Continue reading Enterprise Holdings Cuts Over 2k Employees
Author: Auto Rental International Online News
Uber CTO Resigns
While Uber’s food delivery business, Uber Eats, has seen an uptick in use as people stay home, it has failed to make up for the losses on the ride-hailing side. Photo via Shopblocks/Flickr. Uber’s Chief Technology Officer, Thuan Pham, is leaving the company, according to a filling with the Securities and Exchange Comission. Pham had been… Continue reading Uber CTO Resigns
Hertz Misses Lease Payment
The Wall Street Journal reports that the company is preparing for a bankruptcy. Photo via Depositphotos. In an 8-K filing with the Securities and Exchange Commission on April 27, Hertz disclosed it has missed certain vehicle lease payments for its U.S. rental car fleet “to preserve liquidity to support its ongoing operations,” Hertz states in the… Continue reading Hertz Misses Lease Payment
Europcar Updates Financial Plan
Europcar is continuing its negotiation with some of its lending banks to obtain additional financing guaranteed by the French State via the BPI. Photo via Depositphotos. As part of the cash preservation plan announced on March 23, and updated April 15, Europcar has finalizated the second tranche of its Spanish State guaranteed program, with new three-year maturity… Continue reading Europcar Updates Financial Plan
Avis Receives Loan
Photo via Travelarz/Wikimedia. Avis Budget Group has received a waiver of the leverage covenant included in its existing senior credit facilities, comprised of a term loan and revolving credit facility, until June 30, 2021. The waiver is included in an amendment to the credit facilities, which allows Avis to incur an additional $750 million of first lien… Continue reading Avis Receives Loan
Trōv Mobility Launches Rapid-Quote Program for Last-Mile Delivery Insurance
Photo via Flickr/US Dept. of Agriculture. This week, Trōv Mobility announced the launch of its Rapid-Quote Program, designed to help U.S. delivery drivers get on the road more quickly in response to the need for last-mile delivery services as a result of the COVID-19 crisis. The program can be utilized by delivery platforms, OEMs, auto… Continue reading Trōv Mobility Launches Rapid-Quote Program for Last-Mile Delivery Insurance
GRCGDS Releases New Carshare Platform
Photo via Pxhere. UK Based software company GRCGDS Ltd announces the release of its new carshare platform, Car Share Gateway. “The new platform is a gateway for the car share industry,” said Rick Little, cofounder and company chairman, in a statement. The platform is designed to bring connectivity to a variety of keyless technologies under… Continue reading GRCGDS Releases New Carshare Platform
HyreCar Helps Unemployed Drivers Find Work
Regardless of whether or not an individual is interested in obtaining a rideshare vehicle, HyreCar is actively pursuing ways to connect unemployed drivers with understaffed logistics and delivery companies. Photo via Elvert Barnes/Flickr. HyreCar, the carsharing marketplace for ridesharing and food and package delivery services, is leveraging its expertise, resources, and network in order to help… Continue reading HyreCar Helps Unemployed Drivers Find Work
Hertz Commits to Cutting 10k Employees
Photo via Flickr.com/Atomic Taco. As a result of the impact of the coronavirus pandemic on travel demand, Hertz Global Holdings “has taken proactive and aggressive actions to manage costs and reduce capital expenditures” the company reported in an 8-K form filed with the U.S. Securities and Exchange Commission. On April 14, Hertz committed to North… Continue reading Hertz Commits to Cutting 10k Employees
Car Sales Return Quickly in Wuhan
Photo via Navigator84/Wikimedia. Wuhan, the Chinese city of 11 million that was the epicenter for the coronavirus pandemic, is getting back to business. While the city’s 77-day shelter-in-place order was lifted only Wednesday, there are signs that its citizens are eager to return to normal life — including making major purchases such as cars. Companies… Continue reading Car Sales Return Quickly in Wuhan