Cummins Gives The Axe To 800 Employees, Cuts Executive Pay
(COLUMBUS) - Columbus diesel manufacturer Cummins, Incorporated has announced they will lay off at least 800 workers today, cut officers’ pay by 10%, and freeze company salaries.
The manufacturer said the layoffs and cuts are in response to the global economic recession currently underway, and Cummins faces even more trouble than some other manufacturers since one of their largest customers, Chrysler, LLC, is tanking in terms of sales as well.
Cummins says in their press release, "Combined with its previous actions taken in December, [Cummins] will have reduced its professional workforce by more than 1,400 people or 10 percent. In addition, Cummins will have reduced its hourly workforce by more than 600 and cut approximately 2,500 contingent workers."
Cummins is a major diesel engine supplier to Chrysler for their Dodge Ram Heavy Duty pickup trucks.
Chrysler sales dropped 53% in 2008 versus sales year 2007.
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