Cummins to cut 2,000 jobs

Cummins plans to cut its workforce by 2,000.

Jon Mills, company spokesman, says that demand has deteriorated even faster than expected, resulting in needed adjustments to reduce costs. He explains that the company has already taken several actions in response to declining revenues.

Because the downturn is happening at a sharper pace than was experienced in the previous two cycles, Cummins will reduce global workforce by approximately 2,000 by the first quarter of 2020. Where these cuts will be made is yet to be announced.

Mills says these actions are necessary, but added that this is “incredibly tough and disappointing.” Company officials stress that, by taking actions now, Cummins can navigate this downturn and emerge stronger when markets return.