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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMore Winning! Indiana engine maker Cummins to cut 2,000 jobs
Indiana engine maker Cummins to cut 2,000 jobs
https://www.wdrb.com/news/business/indiana-engine-maker-cummins-to-cut-jobs/article_4a9f145c-0fcd-11ea-bbe4-f70e3946c570.html
Its unclear which job locations or types of positions will be affected by the layoffs. Cummins has 62,600 employees in all, according to its website.
Cummins issued a statement:
As we communicated to our employees last week, demand has deteriorated even faster than expected, and we need to adjust to reduce costs. We have already taken several actions in response to declining revenues. This includes reduced discretionary spending across the company, several global efforts to optimize our operations, voluntary headcount reductions, and we continue to align production with demand at our manufacturing facilities. Unfortunately, we must do more to reduce costs because the downturn is happening at a sharper pace than we experienced in the previous two cycles. We are going to reduce our global workforce by approximately 2,000, which we anticipate completing by Q1 2020. We understand this is incredibly difficult for those directly impacted and for all employees across the company.
Spent some time several years ago at the Columbus, IN plant helping to update their plant floor automation. Sad news.
dalton99a
(81,068 posts)The Trump Recession is coming
Response to Roland99 (Original post)
Chin music This message was self-deleted by its author.
Wounded Bear
(58,440 posts)Hela
(436 posts)Boomerproud
(7,889 posts)It's a union shop I believe. He would be shattered.
safeinOhio
(32,531 posts)Cummins has set aside billions of dollars in recent years to purchase common shares.
Free Markets aren't free or fair if not regulated.
Celerity
(42,662 posts)StarfishSaver
(18,486 posts)Because none of this has anything to do with "economic insecurity."
Wellstone ruled
(34,661 posts)is cutting his payroll. Dang,not good. Cummins is the main supplier to the Over The Road Truck Builders due to their state of the art emissions were as Cat pulled out of that Business. And the Farm Equipment Manufacturers are pulling in their horns as well. This segment is Cummins other main user of their engines. And we know how that is in the toilet.
Wonder when Pence closes his Russia Engine Plant.