LayoffBlog.com

March 17, 2009

Caterpillar to lay off another 2,500 workers

Caterpillar Inc., gearing down production even further in response to still-eroding global demand, disclosed plans Tuesday to idle an additional 2,454 U.S. workers, including 1,726 in Illinois.

The Peoria-based heavy-equipment giant has already announced 22,000 job cuts worldwide, with a good portion of those cuts in Caterpillar’s home state.

Now it is making additional longterm layoffs in Auroroa and East Peoria, although most of those workers will be able to return to work when demand improves in the future.

Source: Chicago Tribune

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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