Reuters reveals Hertz tapping debt restructuring advisers; market reacts

Reuters was first to report that Hertz Global Holdings was working with debt restructuring advisers to explore options for shoring up its finances after the coronavirus pandemic killed demand for car rentals. The Florida-based company, whose largest shareholder is billionaire investor Carl Icahn, is reeling from the impact of the pandemic on global travel. Hertz said this week it would lay off 10,000 people as its revenue dried up. Its workforce totaled 38,000 at the end of 2019