Market Pulse Check
Industrial
Caterpillar: Major Layoffs Worldwide
A sluggish global market in mining and heavy construction has contributed to a move by heavy equipment manufacturer Caterpillar Inc., Peoria, IL, to close a Chicago-area plant and lay off 800 employees, according to news reports, including The Wall Street Journal and an online manufacturing e-newsletter.
Caterpillar recently announced plans to close its plant in Aurora, IL, and shift capacity to facilities in Decatur, IL; and North Little Rock, AR, by the end of 2018.
Another 2,000 employees at a Caterpillar plant in ...
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