Hertz To Cut 1,350 Jobs, Sees First-Quarter Charge

Rental-car operator Hertz Global Holdingsaid on Wednesday it plans to cut 1,350 jobs resulting in annual savings of about $125 million as it seeks to improve competitiveness.

The cuts will be primarily in the company's car-rental operations in the United States, Hertz said. Smaller reductions will be made in its U.S. equipment rental business, its corporate headquarters in Park Ridge, New Jersey, and the U.S. service center in Oklahoma City, Oklahoma.

The company said it expects to book a charge of $9 million to $11 million in the first quarter to pay for the job cuts.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Daymond John, FUBU founder & CEO, discuss the importance of digital literacy and employment.

  • Five occupations that employers will be hiring for most.

  • I'm bullish on crowdfunding, says Steve Case, Case Foundation chairman, discussing the risks and rewards of angel investing. And Daymond John, FUBU founder & CEO, shares his concerns about nonqualified angel investors going into the market and not getting liquidity.