Cummins to cut 2,000 jobs due to weak demand for its engines

The company said it expects the weakness to continue and cut its revenue outlook for the year.

Demand for its generators and engines used in farming and construction equipment has been low and "worsening," he said.

"Given the uncertainty in the global economy, we expect challenging conditions to persist for some time," Linebarger said in a printed statement.

Earnings totaled $380 million, or $2.14 per share, short of the $2.59 Wall Street had expected, according to analysts surveyed by Zacks Investment Research.