For the first time in 16 years, Caterpillar quarterly had a loss
Yesterday, the international construction machinery giant Caterpillar Inc. announced that in the first quarter the company had a loss of 112 million U.S. dollars, compared to a surplus of 922 million U.S. dollars over the same period, in a decrease of 1.034 billion U.S. dollars, which is since 1992, first-quarter loss reported by Caterpillar. Mainly due to the reduction of sales revenue and 558 million U.S. dollars in redundancy of the cost, the 9.225 billion U.S. dollars of sales cost compared to 11.796 billion U.S. dollars in the first quarter of 2008 fell 22%.
Caterpillar layoffs: Caterpillar will lay offs 2454 people in three states
News on March 18, the world’s largest mining and construction equipment maker Caterpillar Inc. (CAT) claimed that the company would lay off 2,400 employees in Illinois, Indiana and Georgia in order to further cut costs to cope with global economic crisis.
The company said, including the previously layoff announcement for around 245 temporary workers, a total of 2365 support and management employees would be dismissed temporarily for at least half a year, and another 89 employees would be laid off permanently.
Among the affected employees, there are 1726 people from East Peoria, Illinois and Aurora plant; 439 people are from the State of Indiana City, Lafayette (Lafayette) a factory; 289 people from Jefferson, Georgia City and Griffin (Griffin) factories.
In January this year, Caterpillar had announced to lay off 20,000 people.
Caterpillar Indiana Factory plans to lay off 439 people
March 17 evening news, Caterpillar Inc. (Caterpillar Inc.) (CAT) an indiana factory plans to lay off 439 people within six months .
The company announced that in order to deal with the problem of declining product demand, the factory plans to lay off employees. The factory mainly produces for the Marine Diesel Engine, oil, electricity and industrial applications.
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