I am hired fresh out of college. Been with Cummins for a few years. Trying to decide if it makes sense to stay in the company long term. After speaking to a lot of people I got a feeling that retaining good talent has been a challenge. Also the engine business is not sustainable. Heard from my electrification friends that they have been losing a lot of money and getting no where. The biggest one I have heard is that the company is on the verge of bankruptcy and hence they have been laying people off to eventually shut down after a few years. I like my team but am worried about my future. Can someone shed some light please?
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Cummins should go to bankruptcy. I have been working in Cummins for long time and they never promoted me.
Cummins wastes money on hiring, firing, recruiting and training more than any other company in existence.
It was a great company 30 years ago and they still milk the old products.
I’m not surprised that they can’t develop new products since they have fired all of their experienced people.
Wall Street still respects them though since they make their quarterly numbers.
Many better companies in the sector like Volvo, Caterpillar and John Deere
Where you can use Cummins experience.
Good Luck
If you have worked 2 or 3 years for Cummins, you can use that as a springboard to a bigger and better-paying employer, or a smaller and leaner start-up. From personal experience - the Cummins brand on your resume helps. Imo it is a great company to work for - but only till the day they feel you are a "cost". I would suggest, do not wait till they lay you off. Instead, take the initiative and actively try to look for a job ASAP. I disagree that electrification is the root-cause of Cummins' troubles. There are several engine makers that offer stable work opportunities.
Cummins is not a long-term company. Use it as a stepping to get in and get some experience then get out. Cummins management is only concerned about one thing and that is Return on Average Net Assets (ROANA) which is essentially profit/average assets and indicates how efficient a company is at using assets to make profit. Higher ROANA means higher efficiency and boosts stock price. Since employee wages are a huge expense, the quickest way to boost profit and keep ROANA up is to have mass layoffs.
Cummins will layoff however many people it takes to meet financial analyst expectations.
CMI is nowhere near bankruptcy. We are still years away from electrification making significant inroads into the long haul truck market or pickup trucks. I believe they will start to migrate away from the smaller engines as these are likely to see the biggest impact of electrified equipment. Cummins will adjust their business model and manufacturing to suit.
I had +20 years with CMI before getting RIF'd earlier this year. Cummins is like any big corporate public company, you are just a number on the balance sheet. Don't fall for the Cummins 'family' line or 'people are our greatest asset'. They will drop you if it suits their purpose, no matter how good an employee you are, but that is not much different to other large companies.
Run away from Cummins fast. They value stockholder perception over employees.
I'm sorry but Cummins isn't close to bankruptcy yet. I didn't know they where having trouble with the electrification part and are losing money. When they bought those companies (battery and design) I thought they did it because they must have saw a proof of concept and that is why they are going that way. Hell look at Nikola they are getting into the electrification market with 18 wheeler trucks and even trucks for the regular person. I think the battery technology is there and that is why they are jumping on the wagon, it's just the infrastucture.
Yes you can plug in your electrified vehicle at your house but what about on the road or even as an 18 wheeler going cross country? I see the big money either from the company or another company going to all the truck stops from big to small that fuel big rigs and saying we would like to build onto your facility an area for electrical vehicles to charge and in so doing it enables more trucks (more advanced trucks) into your facility to purchase and use your facility and you get more business. We just charge for the electricity for the trucks and we worry about keeping it maintained. An d the reason they don't give them a cut is that they will say we would and could open up a competitive facility where it would be all ours and it would compete with you instead of working with you.
I think that the company or any company could get govt. infrastructure money to build facilities for charging for the environment and also bringing the US infrastructure up to 21st century standard.
I would recommend looking for jobs outside of Cummins immediately. Regardless if they claim bankruptcy or go out of business anytime soon, it is an awful company to work for overall and will not value you or your contributions in the long run. They have thrown some of their best and most loyal employees under the bus.
You know I'd agree to that. I have been interviewing with some cutting edge companies and realized that the skillet they need is so advanced. People at Cummins haven't really worked with some of the tools. I am doubtful of how useful my skills at Cummins are going to be to find better and higher paying jobs.
Pro-tip, anyone still talking about their college education is doubtful about anything they've accomplished outside of it.