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Europcar to Shift to Domestic Travel

Short term, the company will focus on domestic business as travel bans are lifted. Midterm, the company will “rethink its priorities, so as to adapt to a ‘new normal’ given the reinforced digital habits, new safety standards, and new travel patterns.”

Avis Budget Group Sheds 70% of Workforce

The company has laid off or furloughed 21,000 employees as a result of the coronavirus pandemic. April revenue is trending down 80% from the prior year. Similar trends are expected in May, but the company “expects a gradual recovery thereafter.”

GM to Shutter Maven Carsharing Brand

Maven’s assets will be transferred to GM’s Global Innovation organization, which will use them to develop “new fleet services” and “mobility solutions.”

PPP Is out of Money, More on Way

Last Thursday, the SBA announced it had stooped accepting new applications, though this Tuesday the Senate approved a measure that would revive the program geared to keep small businesses afloat.

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