Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Dollar Thrifty announces workforce reduction

dollarthriftydtag
dollarthriftydtag
Written by editor

TULSA, OK – Dollar Thrifty Automotive Group, Inc.

TULSA, OK – Dollar Thrifty Automotive Group, Inc. announced today that it has reduced its overall workforce by approximately 6 percent to adjust the company’s cost structure for current economic conditions. The reduction affected senior management – 30 percent reduction, headquarters staff – 15 percent reduction and the company’s field staff – 5 percent. The total workforce reduction involved approximately 400 employees.

“We are taking this difficult action not only in response to current industry conditions, but also as part of our long-term commitment to profitable operations in both good times and bad and to an organizational structure that remains flexible and well positioned to take advantage of opportunities as they arise,” said Scott L. Thompson, president and chief executive officer. “Today’s industry challenges have unfortunately required that we accelerate our efforts to realign our workforce and become more efficient.”

The moves announced today are expected to produce annual savings in the 2009 fiscal year of about $15 million. The company expects that the workforce reduction will also result in a charge in the fourth quarter of 2008 of approximately $4 million for estimated cash severance payments.