Internal restructuring
European Union
Location of affected unit(s)
UK and Germany
Administrative Services
Rental And Leasing Activities
Rental And Leasing Of Motor Vehicles
77.11 - Rental and leasing of cars and light motor vehicles

200 jobs
Number of planned job losses
Job loss
Announcement Date
15 February 2006
Employment effect (start)
Foreseen end date


Car rental firm Avis Europe planned to cut around 200 jobs as it grapples with tough competition. Europe's biggest car rental firm said most of the job losses would be at its European headquarters and in its UK and German operations. 'This has been a difficult decision, but necessary to ensure that we deliver on the goals set out in our recovery strategy and put Avis on the right track for the future,' Chief Executive Murray Hennessy said in a statement. In a further drive to cut costs Avis, which operates under its own name and the Budget brand, said it would renegotiate and exit certain non-fleet supplier contracts in telecoms, systems, transportation and professional services. Avis said the restructuring would generate anticipated savings of around €7 million (£4.8 million) in 2006, €25 million in 2007 and €30 million per year thereafter.


  • 15 February 2006: Yahoo Finance Website


Eurofound (2006), Avis, Internal restructuring in European Union, factsheet number 62961, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62961.