Rent a car in France

Hertz has promised that if its $1.3 billion bid for Dollar Thrifty is accepted, then employees of the budget car hire firm in Tulsa would be secure in their jobs for at least three months following the take over. Hertz chief executive, Mark P Frissora, said in a letter to Dollar Thrifty chief executive, Scott L Thompson, that he is aware that employees at Dollar Thrifty must be feeling uncertain about their future, and that he wished to allay those fears.

Mr Frissora added that on top of the agreed one-year maintenance of basic wages, benefits and bonuses, as well as severance pay, he would guarantee and extra three months after the closure of the merger transaction. He said that this would ensure that the status quo would be maintained for all employees being integrated into the new partnership, as well as for those who decided to leave. These additional assurances were made to all employees at the company’s Tulsa headquarters.

Also in the letter, which was shown to the media as well as Dollar Thrifty employees, was a promise that Hertz would continue to provide information to the Tulsa employees about how the transaction was proceeding and future plans for the two firms.

Mr Thompson has so far declined to comment on the communication from Mr Frissora.

Avis, who back in May said that it was planning to announce a much more substantial offer than Hertz for control of the Dollar Thrifty brand, is yet to make a move. Some analysts believe that Avis is biding its time because it knows that regulatory approval for any takeovers could still be a long way off.