Page last updated at 20:53 GMT, Friday, 16 January 2009

Hertz says over 4,000 jobs to go

A Hertz worker assists a customer at Chicago airport
Hertz will have cut its workforce by a third since 2006

Car rental firm Hertz is to cut more than 4,000 jobs as it makes further cost savings amid slowing demand.

Hertz has already cut its workforce by 22% in the last two years. The new cuts mean the firm has trimmed its staff numbers by 32% since August 2006.

The firm, which has about 29,350 workers in 144 countries, said the cuts would occur across all regions.

The car rental industry has come under pressure as both businesses and consumers have cut back on travel.

Hertz said it expected to make annual savings of up to $170m (115m) in 2009 from the job cuts.

Chairman Mark Frissora said Hertz was still committed to its car rental and equipment rental businesses, and would add the "necessary resources" when conditions improved.

In November Hertz said it no longer expected to meet its annual earnings targets, which had been set in August.



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