GO
Loading...

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

  • CNBC NEWSLETTERS

    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

  • The Glass Ceiling

    Full-time working women still only earn about 77% of what men do in the same fields. A lawsuit in Silicon Valley is bringing renewed focus to that statistic. Vanity Fair Contributing Editor Bethany McLean on the equality fight for women's pay and promotion.

  • Man takes off work clothes on beach

    With Ruth Porat leaving Wall Street for Silicon Valley, Turney Duff takes a look at other ex-Wall Street friends and where they are now.

  • A group of scientists believe they've cracked the reason behind a big mystery: Why are beards so popular?

U.S. Video