NEW YORK – Avis Budget Group Inc. said Thursday that the car rental company is in the process of eliminating an undisclosed number of jobs as part of a cost-cutting effort.

John Barrows, the company's vice president of communications, said the cuts are the result of a slowdown in the travel industry and are not specific to any division of the company, job description, or geographic area.

Barrows declined to reveal the exact number of jobs being eliminated, saying only that the reductions involved a “small percentage” of Avis Budget's 30,000-member work force.

In addition to the job cuts, Barrows said the company is considering adjusting size and composition of its rental car fleet, cutting compensation costs and significantly curtailing capital spending.

“We're really looking at everything,” Barrows said.

Last month, Avis Budget reported a 35 percent drop in second-quarter profit, blaming steep fuel costs and weak economic conditions for cutting into its commercial traffic volumes.

Avis Budget also said at the time that it expected the slowdown in the travel industry to continue into its historically soft fourth quarter. As a result, the company said would cut staffing levels and adjust the size and makeup of its fleet to better match expected demand.

Avis Budget shares fell 34 cents, or 4.1 percent, to $7.95 Thursday.