LayoffBlog.com

February 13, 2009

Caterpillar CEO Contradicts Obama on Rehiring

Obama has said twice in the past few days that Caterpillar CEO James Owens indicated his company would be able to rehire some of the 20,000 recently laid-off employees. “Yesterday, Jim, the head of Caterpillar, said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off,” Obama said in Peoria.

But when asked if the stimulus could do that, Owens said, “I think, realistically, no. The honest reality is we’re probably going to have more layoffs before we start hiring again.

Source: ABC News

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