Hertz announces decision to cut 1350 jobs

Hertz announces decision to cut 1350 jobs

Hertz Global Holdings is the world’s largest car rentals company and they have announced their decision to cut 1,350 jobs as part of a cost cutting plan.

The company is aiming to cut costs by $125 million a year. They are going to cut these jobs primarily in the US market in addition to Canada, Puerto Rico, Brazil, Australia and New Zealand.

Hertz added that these job cuts would cost them $9 million to $11 million in the first quarter.

Company’s Chief Executive Officer Mark Frissora has been trying to reduce expenses ever since he joined the company last year in July.

Hertz is also cutting costs by trying to reduce the price it pays for new cars and improve service at rental locations.