Shares in Avis, Europe's biggest car rental firm, fell after it announced a failed computer system would cost it more than £30 million.
The company, which has offices in Brighton, Gatwick and Crawley, said plans to overhaul its software had been hit by delays and other problems.
Chief executive Murray Hennessy said: "We are very disappointed but we felt it was right to take decisive action."
The company said scrapping the new system would "significantly reduce" a planned one per cent boost to operating margins. But Avis Europe's move to centralise its administration in Budapest had been successful.
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