Caterpillar will lay off 2110 people
On Friday evening news, Caterpillar Inc. (CAT) said the company would lay off approximately 2110 production positions in Illinois three production plants.
This layoff is complementarity for its 20,000 layoffs on January. Caterpillar said the latest measures would enable production levels in line with demand. The company said the layoffs would be started on April 13.
Caterpillar laid off 50% of its employees, executives get a substantial salary reduction
Due to the increasing austere economic situation, U.S. manufacturers of construction machinery giant Caterpillar Inc. yesterday announced that it would cut up to 50% of employees and plan to buy off the length of service for 25,000 U.S. employees. In addition, the greatest decline of executives in its company in 2009 reaches 50%.
Momentive announced to lay off 250 employees to save expenditure to deal with the crisis
Momentive Performance Materials Inc. recently announced to lay off 250 employees to cope with the continued deterioration under the worldwide economic conditions. In order to reduce costs as much as possible, the company also takes other measures at the same time, including: performance wages in 2009 will not rise; the company will cancel 401K pension plan; the company suspend the training return system.
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