20.08.2008

Oshkosh makes cutbacks

Oshkosh, the parent company of JLG, has laid off over 1,400 employees – around 10 percent of its worldwide work force - in order to reduce costs and realign its operations with slower commercial and residential markets.

Oshkosh says that the reductions have already been completed and the cutbacks include a combination of job cuts, cost reductions, rebalanced inventories and supply chain improvements all aimed at reducing costs and boost profits.

A spokesman for the company said: "It's all part of reducing costs, rebalancing inventories and responding to the slowdown. Through the action, the hope is to create an organization that's better positioned to compete in an economically-challenged, global marketplace."

He added that the job cuts will be accomplished through layoffs, retirements and elimination of open positions, no details of where they would hit most was given. They do include around 500 jobs at JLG which were already announced.