Tulsa, Okla., /PRNewswire-FirstCall via COMTEX News Network/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported that it will reinstate the company match portion of its 401(k) plan for employees in 2009. The Company will match employee contributions dollar-for-dollar up to 2 percent beginning in January 2009. Previously, the employee benefit had been suspended in 2008 due to worsening economic conditions and the Company's expected performance in 2008.
"DTG's Board of Directors and the management team feel strongly that reinstating the 401(k) match for employees is the right thing to do," said Scott L. Thompson, President and Chief Executive Officer. "While many companies are faced with economic uncertainty - and our own Company certainly continues to see its share of headwinds - it is tough for companies and employees alike. As we at DTG work together during these difficult times, it is important that employees be able to focus on their own future and that of their families. That's why the DTG board, at management's request, unanimously voted to reinstate the 401(k) match benefit for our employees."
"Employees are what drive our Company's success and we are delighted to recognize their contribution," said Thompson.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in approximately 70 countries. Dollar and Thrifty have over 800 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 7,000 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network.
This press release contains "forward-looking statements" about our expectations, plans and performance. These statements do not guarantee future performance and Dollar Thrifty Automotive Group, Inc. assumes no obligation to update them. Risks and uncertainties that could materially affect future results are detailed in the Company's filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.
SOURCE: Dollar Thrifty Automotive Group, Inc.