Caterpillar Moving Forward with $240 Million in New Plant Construction in the South
Caterpillar Moving Forward with $240 Million in New Plant Construction in the South
SUGAR LAND--February 16, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In these tough economic times, Caterpillar Incorporated (NYSE:CAT) (Peoria, Illinois) has been forced to make operational changes at a rapid pace to keep up with the changes in the market. To this end, more than 22,000 job cuts have been made by the construction- and mining-machinery giant in the past month. On Wednesday, the company announced an additional 2,000 employees would be offered a voluntary early retirement package based on the individual's age and length of service. While Caterpillar hopes to re-hire some of these former workers once the stimulus package is passed, the company is prepared to weather the storm regardless.
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