Enterprise Cutting 900 Jobs; Company's First Mass Lay Off In 51-Year History

October 29, 2008 6:24 p.m. EST

Clayton, MO (AHN) - Clayton-based Enterprise Rent-A-Car announced that "unprecedented economic times" were forcing it to lay off 200 local employees in the first mass lay offs in the company's 51-year history.

The 200 employees in the Clayton and Weldon areas represent about 5 percent of the Enterprise's local work force. Company officials say they will also trim 700 jobs worldwide within the next few weeks by lay offs or attrition.

Most of the local employees who lost their jobs were in information technology operations or in administrative positions.

Enterprise has 4,000 employees in St. Louis area and is the largest privately held company in the St. Louis area. It had more than $9.5 billion revenue in 2007 and has 75,000 employees worldwide working for Enterprise, which also operates facilities under the brand names Alamo and National.

Company officials said the business was basically sound, but that it had to react to the economic conditions to preserve financial stability.