Another Round Of Cat Plant Closings And Job Cuts
By Mike Brezonick29 January 2016
Caterpillar has announced another wave of plant closings and job cuts as the Peoria, Ill. manufacturer weathers the ongoing downturn in most of its key markets. The cuts are the most recent in a broader consolidation effort the company announced last year. At that time it was estimated the consolidation efforts would affect about 10,000 jobs over three years. Caterpillar currently has about 106,000 employees.
This round of cuts is expected to have a net reduction of 670 jobs, including 230 at its East Peoria, Ill. operations. Another 120 employees there will be placed on indefinite layoff.
Plant closings include facilities in Thomasville, Ga. and Santa Fe, N.M. — though some operations will be consolidated into its Pontiac, Ill. plant. A forest products facility in Prentice, Wis., will close resulting in about 220 job cuts. Other moves will affect plants in Indiana, Mississippi, Texas and China.