Avis budget group - have reduced or furloughed about 70% of global workforce, or about 21,000 employees

Avis budget group provides preliminary first quarter 2020 financial results; update on april trends, mitigation actions and liquidity.sees q1 2020 revenue $1.7 billion to $1.8 billion.have reduced or furloughed approximately 70% of our global workforce, or approximately 21,000 employees.have reduced base compensation at level of vice presidents and above, froze merit increases.reduced size of our global fleet beginning in march and continuing in april.have no meaningful corporate debt maturities until 2023 and have no material fleet financing maturities in 2020.based on current operational assumptions, we believe we have adequate liquidity for balance of 2020 and into 2021.expect q1 net loss to be between $155 and $165 million.q1 rental days were in a range of 34.4 to 34.6 million, revenue per day was in a range of $50 to $51.eliminated our 401(k) match for highly compensated employees, and canceled all future hiring.april revenue appears to have stabilized, down approximately 80% from prior year.both of americas and international segments are experiencing lower revenue per day.reduced or furloughed approximately 70% of global workforce, or approximately 21,000 employees.march results were significantly impacted as shelter in place orders effectively eliminated travel activity globally.believe co will achieve estimated $2.0 billion in annualized cost removal and mitigation through actions to date.
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