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CNH Global announces job cuts

April 24, 2003

CNH Global N

CNH Global N.V., maker of large farm and construction equipment, laid off 35 salaried workers at its New Holland plant, citing a continuing slump in sales.

"It's a very tough market for agricultural and construction equipment right now," company spokesman Jeff Walsh said.

CNH Global N

CNH Global N.V., maker of large farm and construction equipment, laid off 35 salaried workers at its New Holland plant, citing a continuing slump in sales.

"It's a very tough market for agricultural and construction equipment right now," company spokesman Jeff Walsh said. "We are in both businesses, and both businesses are in a tough situation in terms of industry performance."

The layoffs will affect about 6% of the salaried work force in New Holland. Prior to the cutbacks, the plant employed more than 600 salaried workers. About 600 hourly employees also work at the plant.

"This was a reduction in the salaried work force in order to bring resources in line with current market conditions," said Walsh. "We have, altogether in the New Holland site, more than 600 salaried employees in sales and marketing and engineering. We also have field people based there. There's quite a lot of activity at the New Holland site."

Lake Forest, Ill.-based CNH Global, known as New Holland North America before its merger with Case Corp., laid off nearly 200 workers in the late 1990s.