Cummins plans to cut up to 1,500 jobs in response to the slowing global economy. The company cited slowdowns in the North American heavy truck market.
In addition to job reductions, the company plans several factory slowdowns, including two plants in Indiana, Jamestown, N.Y., and a facility in Brazil.
Cummins said it expects 2012 revenue to be $1 billion less than forecast. The company lowered expectations for earnings before interest and taxes to about 13.5 percent from a range of 14.25 percent to 14.75 percent.