Hertz, the car rental company, paid its top 340 executives an average of $47,709 a few days before it filed for bankruptcy, a federal filing said.
The car rental company gave four reasons for the bonuses:
Hertz employees are facing “financial and operational uncertainty” thanks to the coronavirus pandemic, which has had an “adverse impact on the global travel sector.”
Because of the bankruptcy filing, top executives have lost out on their annual bonus plan.
Other executives at large companies have received large bonuses days before filing for bankruptcy.
JCPenney, which filed for bankruptcy on May 15, gave CEO Jill Soltau a $4.5 million bonus and three other top executives a $1 million bonus before the company announced its bankruptcy filing.
