Tuesday, August 30, 2016

CAT Begins Layoffs

Caterpillar has begun its layoffs that were announced last month, and workers are finding out whether or not they are still employed.

The job cuts at CAT are the result of a new division focusing on research, technology and product development.

Most of the job cuts are in engineering.

Caterpillar is trying to find them other positions within the company, or have outplacement services to help them find new jobs at other companies. In addition, workers being laid off are getting severance packages.

Stock is currently down in the 91-year old manufacturing company as they adjust and adapt to technological changes. Spokesman for CAT said the layoffs will take affect 60 days from Aug. 29th.

Information provided by WEEK HOI-19

No comments:

Post a Comment