LOUISVILLE, Ky. (WDRB) – Cummins Inc., the Columbus, Ind.-based engine maker, confirmed Monday that it’s cutting 2,000 jobs by early next year, citing declining revenue and reduced demand.
It’s 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.