170 Caterpillar employees are losing their jobs as the company consolidates four plants into one. Cat says its consolidating two plants in Sterling and one in Dixon into its facility in Menominee, Michigan.
The company says it will offer severance packages and placement services to affected Illinois employees. The Illinois plants will ramp down production beginning late this year with the final transition set for early 2015. Caterpillar says the move will reduce costs and boost efficiency.