Cummins to pink-slip 1,000-1,500 workers, stocks suffer

Cummins Inc. plans to reduce its workforce by between 1,000 and 1,500 by year's end in response to "uncertainty regarding the direction of the global economy." The Columbus, Ind. engine-maker may also institute work-week reductions at its North American facilities. Shares of Cummins slid 3.4 percent to $87.79 for the biggest daily decline since July.

Commercial Carrier Journal

Bloomberg