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Caterpillar announces new layoffs

  • Illinois-based earth-moving equipment manufacturer, Caterpillar Inc. announced an additional round of layoffs to be effected by July 2013.

    Over 300 jobs are likely to be reduced from their Decatur facility. Caterpillar’s Decatur unit had employed over 4000 people before the series of layoff was initiated. With this layoff, the total reduction in staff is likely to add up to about 760. Most of the layoffs will come from the production workforce, said a Caterpillar spokesperson.

    The company believes that the move is essential to bring production in line with demand.

    The market for mining equipment built by the Decatur facility has been experiencing a low surge since last year.

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    Tagged as: Caterpillar, new layoffs, business news, business