Caterpillar To Trim 2,500 Laid Off Workers; Calls Back 550
26 Ottobre 2009 - 4:57PM
Dow Jones News
Caterpillar Inc. (CAT) said it expects to call 550 laid off
employees back to work by the end of next year, but will
permanently trim about 2,500 idle employees.
The company on Monday began notifying the employees designated
for permanent separation from the construction machinery maker. The
company said it will provide severance benefits to those employees,
but it didn't specify whether they are from the hourly or salaried
employee ranks or where they worked.
Caterpillar also didn't provided details about the employees
being called back, other than saying they include management,
support and production employees.
The Peoria, Ill., company said the additional workers are needed
to meet an anticipated increase in orders in the coming months.
Representatives from the United Auto Workers union said
call-back notices were recently issued for about 200 hourly workers
at the Decatur, Ill., plant where Caterpillar's giant earth movers
and motor graders are assembled. Several hundred employees at
Decatur though are expected to permanently loose their jobs when
Caterpillar shifts production of motor graders to a new plant in
Arkansas. About 100 laid off workers also have been called back for
plants in East Peoria and near Aurora, Ill.
Caterpillar has aggressively slashed its production schedules
and work force since later last year to ailing production with
sharply lower demand for the machinery in the weak global economy.
The company has laid of more 30,000 permanent and temporary
employees.
Caterpillar was recently up 1.8% at $58.66 a share.
-By Bob Tita, Dow Jones Newswires; 312-750-4129;
robert.tita@dowjones.com