Hertz 2008 Annual Report Download - page 43

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ITEM 1. BUSINESS (Continued)
forth this seasonal effect by providing quarterly revenues and operating income (loss) for each of the
quarters in the year ended December 31, 2008.
Revenues
Operating Income (Loss)
0
500
1,000
1,500
2,000
2,500
In Millions of Dollars
1Q 2008 2Q 2008 3Q 2008 4Q 2008
$2,039
$2,275
$2,422
$1,789
(1,500)
(1,000)
(500)
0
500
1Q 20082Q 20083Q 20084Q 2008
$140
$299 $241
$(1,218)
In Millions of Dollars
Employees
As of December 31, 2008, we employed approximately 24,900 persons, consisting of 16,700 persons in
our U.S. operations and 8,200 persons in our international operations. Employee benefits in effect
include group life insurance, hospitalization and surgical insurance, pension plans and a defined
contribution plan. International employees are covered by a wide variety of union contracts and
governmental regulations affecting, among other things, compensation, job retention rights and
pensions. Labor contracts covering the terms of employment of approximately 5,500 employees in the
United States (including those in the U.S. territories) are presently in effect under 140 active contracts
with local unions, affiliated primarily with the International Brotherhood of Teamsters and the
International Association of Machinists. Labor contracts covering approximately 1,800 of these
employees will expire during 2009. We have had no material work stoppage as a result of labor problems
during the last ten years, and we believe our labor relations to be good. Nonetheless, we may be unable
to negotiate new labor contracts on terms advantageous to us, or without labor interruptions.
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