Cummins Laying Off 2000

By Mike Osenga26 November 2019

After quietly tipping their hand during its November 21st 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.

MAGAZINES
Latest News
Chip supplies hamper truck production: ACT Research
Semiconductor shortages to continue into next year, but ACT remains positive on truck demand
Kenworth reaches T680 production milestone
10,000th Next Generation truck delivered To System Transport
Street Smarts: eNow proves all-electric reefers are cool
eNow’s highly developed solar-powered reefer trailer system saves fuel and cuts CO2