Cummins Plans to Cut 2,000 Positions
Date:2015-10-29 Source:www.chinatrucks.com
www.chinatrucks.com: Cummins, the globally renowned engine maker, released its third quarter financial report on Oct. 27. Both its business revenue and profits in this period were far below the market expectations. The company attributed its poor performance to the sluggish global economy which has exerted some negative impacts on its overall performance in the global market.
Due to its lackluster business, the engine giant also made the announcement that it planned to cut its work force by 2,000 worldwide, which accounts 3.7% of its total work force. Affected by the bad news, Cummins’ share price dropped by nearly 9% on the stock market.
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