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

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

Caterpillar Announces Second Layoff Wave This Week

According to CNBC: “Caterpillar said it was laying off an additional 2,110 workers, bringing the week’s total to about 22,000, as the company scrambles to cope with a downturn in demand for its construction and mining equipment.”

“On Monday the company said it was cutting nearly 20,000 jobs and warned of a tough year ahead, with worldwide economic weakness gutting orders for it earth-moving equipment.”

~News submitted by upthecreek

Caterpillar to lay off 20,000

Caterpillar, seeing sales for its bulldozers and other heavy equipment sinking in a worldwide economic mire, said Monday that its business was “whipsawed” during the fourth quarter and that it would eliminate 20,000 jobs in the face of a “very tough” 2009.

Caterpillar announced the staff reductions as part of its fourth quarter earnings report, released Monday morning. The company said that while its revenue and profit for full-year 2008 were strong, its business ran head first into the worldwide recession in the fourth quarter.

Source: Triangle Business Journal

Caterpillar to lay off more than 800 in Illinois

According to Chicago Tribune: “Caterpillar Inc., hit by a drop in demand for diesel engines, disclosed Thursday that it plans to indefinitely lay off 814 production workers at its engine assembly plant in Mossville[, IL].

The heavy-equipment giant said the layoffs will begin on Feb 23.”