A machine tool for machining a workpiece having a long shaft section. The machine tool includes a frame, a tool holder on the frame for holding the cutting tool to machine a workpiece, a first slide assembly and a first servo motor on the frame for translating the tool holder along a first axis relative to the frame, a second slide assembly on the frame for mounting the tool holder for translation along a second axis relative to the frame, a first workpiece holder on the frame for holding the workpiece to be machined by a cutting tool held in the tool holder, a second workpiece holder on the frame for holding a workpiece to be machined by a cutting tool held in the tool holder, a third slide assembly and a second servo motor for translating the second workpiece holder along the second axis, and structure for selectively connecting the tool holder to the second workpiece holder for translation of the tool holder by the third slide assembly and the second servo motor along the second axis.