Hertz Global Holdings layoffs, on the record
Every job cut, severance charge and restructuring Hertz Global Holdings reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 27,000 to approximately 26,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 27,000 | December 31, 2023 |
| 10-K for 2024 | approximately 26,000 | As of December 31, 2024 |
| 10-K for 2025 | approximately 26,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryHertz described restructuring charges as costs incurred under restructuring actions as defined in U.S. GAAP, including incremental costs supporting business transformation initiatives.
Word for word“(3) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs.” 10-K for 2023
Our summaryHertz completed a restructuring of European operations in 2021, generating a tax loss that the IRS later agreed to characterize as ordinary in February 2023.
Word for word“During 2021, as part of a restructuring of European operations, we generated a tax loss of approximately $ 1.3 billion, which was initially characterized as a capital loss in the 2021 provision.” 10-K for 2023
Our summaryHertz reported that the 2023 tax result reflected the release of valuation allowances tied to the characterization of the loss on the restructuring of European operations.
Word for word“The change in tax provision in 2023 compared to 2022 was primarily driven by lower pre-tax income in 2023, benefits from EV credits generated in 2023 and the release of valuation allowances in 2023 primarily related to the characterization of the loss on the restructuring of European operations.” 10-K for 2023
Our summaryHertz recorded restructuring and restructuring related charges, which the filing says include incremental costs tied to personnel reductions, litigation and closure of underperforming locations.
Word for word“Restructuring and restructuring related charges (2) 66 17 Unrealized (gains) losses on financial instruments (3) 7 117 Gain on sale of non-vehicle capital assets (4) — (162) Non-cash stock-based compensation forfeitures (5) (64) — Bankruptcy-related litigation reserve (6) 292 — Long-Lived Assets impairment (7) 1,048 — Other items (8) 63 37 Adjusted Corporate EBITDA $ (1,541) $ 561 56 Table of Contents HERTZ GLOBAL HOLDINGS, INC.” 10-K for 2024
Our summaryHertz said SG&A rose in its International RAC segment due to increased restructuring related costs and higher personnel costs.
Word for word“SG&A for International RAC increased $16 million in 2024 compared to 2023 due primarily to increased restructuring related costs and higher personnel costs, partially offset by lower intercompany royalty assessment fees paid to our corporate operations.” 10-K for 2024
Our summaryHertz said SG&A in its Americas RAC segment included increased restructuring related costs.
Word for word“SG&A for Americas RAC decreased $19 million in 2024 compared to 2023 due primarily to reduced advertising spend, partially offset by increased restructuring related costs and increased personnel costs.” 10-K for 2024
Our summaryHertz described its restructuring charge definition, which covers incremental costs tied to personnel reductions.
Word for word“(2) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs.” 10-K for 2024
Our summaryHertz recorded restructuring and restructuring related charges, including incremental costs mainly tied to personnel reductions, litigation and closing underperforming locations, recorded in SG&A in 2025 and 2024.
Word for word“Also includes restructuring related charges such as incremental costs incurred related primarily to personnel reductions, litigation and closure of underperforming locations.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | $62 million | $62 million | $28 million |
| 2017-12-31 | $8 million | $8 million | $15 million |
| 2020-12-31 | $37 million | — | $29 million |
| 2021-12-31 | $76 million | — | $32 million |
| 2022-12-31 | $45 million | — | — |
| 2023-12-31 | $17 million | — | — |
| 2024-12-31 | $66 million | — | — |
| 2025-12-31 | $18 million | — | — |
Hertz Global Holdings filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Hertz Global Holdings’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-26. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.