Caterpillar to shut 5 U.S. plants, cut more than 800 jobs…(“Recovery!”, White House.)
Part of plan to cut 10,000 positions worldwide by 2018
By Bob Tita
MarketWatch.com
Apr 28, 2016
Caterpillar Inc. said Thursday it will close five U.S. plants and shed about 820 positions as the construction-equipment maker continues to scale back its production and workforce in response to falling demand.
The cutbacks are part of a strategy outlined by the Peoria, Ill.-based company in September to trim its workforce by about 10,000 positions and close or consolidate about 20 facilities through 2018. The company said Thursday it has shed about 5,300 positions so far.
The plants in North Carolina, South Carolina, Florida and Mississippi designated for closure mostly produce components for Caterpillar machinery and engines. Their operations will be merged into other Caterpillar plants or assigned to parts suppliers outside of the company during the next 12 months to 18 months.
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