Cummins, Inc., is planning to cut back its labor force and take other cost cutting actions in reaction to the ailing economy. Among its many products are diesel engines that power many motorhomes.

“Like many other companies, Cummins is experiencing the negative impact of the global economic downturn,” said Tim Solso, Cummins Chairman and Chief Executive Officer. “Our engine and components segments are seeing the most significant declines with revenues for the fourth quarter down 15 percent compared to what we anticipated in our previous guidance at the end of October. We do not expect market conditions to improve significantly in the immediate future.”

The company has taken a number of steps to address the slowing demand over the past month, including:
•Initiating temporary plant shutdowns, shortened work weeks and extended traditional holiday closing periods.
•Eliminating temporary employees in a number of plant locations.
•Reducing permanent employee levels at some manufacturing locations.
•Prioritizing capital and IT project spending to focus on the company’s most pressing needs.
•Initiating a hiring freeze across most of the company.
•Significantly curtailing its discretionary spending.

Cummins will reduce its professional workforce worldwide by at least 500 employees by the end of 2008.

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