Cummins to offer buyout

Engine manufacturer Cummins will offer voluntary retirement packages to about 350 hourly employees at facilities in Columbus and Seymour, Indiana. Approximately 700 of the 6,200 Cummins employees in Indiana are eligible for early retirement, including all hourly workers with 30 years of service, or who are at least 55 years old with 10 years of service, the company says in a news release.

Employees have until 5 p.m. on Friday, February 13, to apply for the early retirement option.

Cummins has cut 1,400 salaried jobs and 1,000 hourly jobs since October, and has cut 2,500 contract and temporary positions. Other cost cutting measures include hiring and salary freezes, a reduction in capital and discretionary spending and shortened workweeks at some facilities.