Because of a slowdown in the travel industry, Avis Budget Group Inc. recently said that the car rental company is in the process of eliminating an undisclosed number of jobs as part of a cost-cutting effort, the Associated Press reports.
John Barrows, the company’s vice president of communications, said the cuts are not specific to any division of the company, job description, or geographic area.
Last month, Avis Budget reported a 35-percent drop in second-quarter profit, blaming high fuel costs and weak economic conditions for cutting into its commercial traffic volumes.
According to the AP, Avis Budget also said at the time that it expected the slowdown in the travel industry to continue into its historically soft fourth quarter. As a result, the company said it would cut staffing levels and adjust the size and makeup of its fleet to better match expected demand.
Barrows declined to reveal the exact number of jobs being eliminated, saying only that the reductions involved a “small percentage” of Avis Budget’s 30,000-member work force.