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January 16, 2009 at 13:19 PM EST
Hertz cuts 4,000 jobs; stock takes a hit
Hertz Global Holdings Inc. shares are driven 7% lower after the company says it will slash 4,000 jobs, or almost 14% of its workforce, in an effort to cut costs in the face of falling demand for its rental cars.
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HERTZ GLOBAL HOLDINGS, Inc.
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