Syracuse, N.Y. — Avis is extending the furloughs of 50 personnel and has built long term the layoffs of 17 other individuals as the coronavirus pandemic carries on to acquire a toll on the journey sector.
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A indication directs Avis customers in which to return automobile rentals at Syracuse Hancock Global Airport on Thursday, Sept. 24, 2020.
![a sign on the side of a road: A sign directs Avis customers where to return car rentals at Syracuse Hancock International Airport on Thursday, Sept. 24, 2020.](https://www.msn.com/en-us/finance/companies/avis-extends-layoffs-as-coronavirus-continues-to-hurt-car-rental-business/"default":"load":"default","w":"80","h":"60","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19qBGI.img?h=600&w=799&m=6&q=60&o=f&l=f","size3column":"load":"default","w":"62","h":"47","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19qBGI.img?h=468&w=624&m=6&q=60&o=f&l=f","size2column":"load":"default","w":"62","h":"47","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19qBGI.img?h=468&w=624&m=6&q=60&o=f&l=f")
Avis Funds Motor vehicle Rental LLC submitted a discover less than New York’s Worker Adjustment and Retraining Notification (Alert) Act on Thursday stating the actions had been getting taken for the reason that of “unforeseeable enterprise situations prompted by Covid-19.”
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Covid-19 is the extremely contagious respiratory condition brought on by the novel coronavirus. It has killed 203,000 people today in the U.S.
The furloughs at Avis occurred from April as a result of June at or near airports throughout the point out, which includes Syracuse Hancock Intercontinental Airport, as the pandemic slowed down the travel industry, in particular air travel. The layoffs had been designed long term on Sept. 1.
The company’s Alert observe does not supply a breakdown of how numerous employees were affected at each and every location across the state.
The pandemic has dealt a serious blow to Avis and other car rental businesses, which get two-thirds of their revenues from airport destinations.
Avis noted a loss of $481 million in the next quarter, with revenues slipping 67% as opposed with the period final calendar year. It missing $639 million in the 1st 6 months of 2020.
The business reported it has furloughed much more than 60% of its employees all-around the environment, reduced the pay of its senior leadership, frozen advantage improves and eliminated its 401(k) match for really compensated staff members.
Hertz submitted for security from collectors under Chapter 11 of U.S. Personal bankruptcy Code in May well, citing the impression of the pandemic on its company.
Rick Moriarty handles small business news and consumer concerns. Acquired a idea, remark or story idea? Speak to him anytime: Email 5/8 Twitter 5/8 Facebook 5/8 315-470-3148
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