Hertz to Cut 1,350 Jobs

Hertz Global Holdings Inc. said on Wednesday it plans to cut 1,350 jobs, primarily in the company’s U.S. car-rental operations, according to a statement by the company.

The job cuts should bring annual savings of about $125 million in wages and related costs, Hertz said. The company said it expects to take a charge of $9 million to $11 million in the first quarter for severance and related costs.

Hertz said in the statement the move was to “eliminate unnecessary layers of management.”

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