Caterpillar to cut 20,000 jobs
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Caterpillar to cut 20,000 jobs

January 30, 2009 – 8:04 pm – No Comment

The largest maker of heavy duty construction equipment, Caterpillar has announced it will be slashing 20,000 jobs due to not meeting profit expectations in 2008.

Caterpillar is expecting its worst and slowest sales year since the end of World War II.

Manufacturing plants of equipment like Caterpillar should be expecting the cuts. Since new construction is down and commodity prices have dropped, there are far fewer people building new things or mining for metals and other commodities.

Jeremy
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