According to the announcement, the company will match 100% of employee contributions up to 2% of pay beginning in January 2009. Tulsa-based Dollar Thrifty Automotive Group cut its match in January due to worsening economic conditions and the Company’s expected performance in 2008 (see “Tightening Economy Squeezes 401(k) Match Suspensions’).
“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 CEO in the announcement. “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.”
Thompson added that: “Employees are what drive our company’s success and we are delighted to recognize their contribution.”