Rental car company Hertz Global Holdings said yesterday it will eliminate more than 4,000 jobs worldwide -- including about 50 in New Jersey -- as it further cuts costs amid slowing demand.
The Park Ridge-based company expects to save $150 million to $170 million this year and take a related fourth-quarter charge of $20 million to $25 million.
Hertz already has trimmed its workforce by 22 percent in the last two years. The new reductions will bring staffing to 32 percent below August 2006 levels. According to CapitalIQ, the company currently has about 29,350 workers, who operate about 8,100 locations in 144 countries.
The company said the latest round of eliminations, which will take place in its fiscal 2008 fourth quarter and first quarter of 2009, will come in its car and equipment rental operations as well as corporate and support areas. The reductions will occur across all regions.
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