Hertz Announces 4th Quarter and Full Year Operating Results

Hertz Global Holdings announced Feb. 23 a revenue of $1.8 billion worldwide, a 16.4 percent decrease from last year’s $2.14 billion.

The company, which also leases equipment, posted an adjusted loss of $73 million, or 22 cents a share, compared with earnings of $93.9 million, or 29 cents per share, a year ago.

Due to the uncertain economic environment, Hertz has declined to give specific quarterly or full-year guidance.

Additionally, the company plans to reduce 4,000 jobs in hopes to achieve $350 million cost savings in 2009.

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