Oshkosh Corp. [OSK] yesterday said it plans to layoff 900 employees between June and July due to expected declines in military truck sales to the Defense Department.
The company plans to reduce its workforce by about 700 hourly positions beginning in mid-June and by about 200 salaried positions through July, leaving about 2,800 employees in its Defense division. Oshkosh said it has already insourced some work that has resulted in 165 production jobs being saved.
Oshkosh said the decline in military truck production is due to reduced DoD spending and the wind down in war activities, leading to daily production volume declines of 30 percent this summer.