US Cummins to slash 1,500 jobs: CEO

(MENAFN) Cummins' Inc. CEO, Tom Linebarger, announced that by the end of the year, the company would slash 1,500 jobs due to the global economic uncertainty, reported AP. Linebarger said that as sales in markets in North America, China and Brazil fell, in September; the company had launched a global hiring freeze. The firm, which earned USD1.85 billion in 2011 on sales of USD18 billion, employs around 44,000 people globally. It is worth noting that the Columbus, Indiana-based firm owns plants in Indiana, Minnesota, New Mexico and North Carolina in addition to other several overseas.