Hertz Drops Executive Incentive Pay That Bankruptcy Judge Called Offensive

Hertz Global Holdings Inc. dropped its plan to hand out executive incentive bonuses for 2020.

Steven Church

07 Oct 2020, 09:08 PM IST

Hertz Drops Executive Incentive Pay That Bankruptcy Judge Called Offensive

Signage is displayed outside a Hertz Global Holdings Inc. office in San Francisco, California, U.S. (Photographer: David Paul Morris/Bloomberg)

(Bloomberg) -- Hertz Global Holdings Inc. dropped its plan to hand out executive incentive bonuses for 2020 after the judge overseeing the company’s bankruptcy called the idea “offensive.”

Instead Hertz will push forward with a general incentive plan for lower-ranking employees to motivate them while the company crafts a turnaround plan, the car renter said in a court filing Wednesday.