Drive Wire: Cummins Plans to Lay Off 2,000 Workers

Transcript:

In unfortunate news, Cummins has announced it will lay off 2,000 employees worldwide by the end of the year, which is about 4 percent of its workforce. Cummins says that a steep decline in the worldwide construction industry has caused a decrease in demand for their industrial-application engines, leading to the drastic cutbacks. About 500 of those job cuts are expected to happen in the company’s home state of Indiana.