Cummins Laying Off 2000

After quietly tipping their hand during its November 21^st analyst call saying, ““we are taking steps to lower our cost base,” Cummins Inc. is apparently laying off about 2000 salaried workers. Confirming the layoffs to Inside Indiana Business, the 2000 salaried workers account for about 3.2% of Cummins global workforce of about 62,000.

“As we communicated to our employees last week, demand has deteriorated even faster than expected, and we need to adjust to reduce costs,” Cummins spokesman Jon Mills was quoted as saying.

The furloughs are part of $250M to $300M in structural cost savings that Cummins told analysts last week were coming in response to the softening truck market.