CNH Global job cuts
4 February 2000
CNH Global job cuts
FARM machinery giant CNH Global is to cut 7000 jobs – about one-fifth of its global workforce – over the next two years.
The Wisconsin, US-based company, which was formed late last year when Case and New Holland merged, plans to close 10 plants and 15 warehouses around the world, according to recent reports. No decision has yet been taken on where the job cuts will fall or which plants will close.
The redundancies and closures are part of CNH Globals plan to save up to $500m (£310m) during the next three to four years. For 1999, CNH Global reported net income of $148m, down 43% on 1998. *
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