Please ensure Javascript is enabled for purposes of website accessibility

Oshkosh to Lay Off 900 Workers

By Eric Volkman - Apr 9, 2013 at 5:04PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The heavy-duty truck maker is making the cuts due to expected lower production volumes arising from a decline in military spending.

Oshkosh (OSK 1.94%) plans to enact a series of employee redundancies this summer. The company announced that it will cut the workforce comprising its defense division by roughly 700 workers starting in mid-June, then by another 200 or so through the following month.

Following those rounds of layoffs, the division's employee ranks will be thinned to around 2,800 in total.

Oshkosh is cutting those jobs due to the expectation that the production volume of military vehicles will "decline significantly" over the course of the year in general and by around 30% this summer in particular. This is due to a drop in the government's defense budget as the military returns to a more peacetime stance.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Oshkosh Corporation Stock Quote
Oshkosh Corporation
OSK
$90.22 (1.94%) $1.72

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
330%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/23/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.