Short-term layoffs continue at Caterpillar

Mar 14, 2013

Caterpillar is expected to continue with short-term layoffs 

  beyond the first quarter as originally anticipated. Randy Smith is with UAW Local 974. He says the rolling layoffs are expected to continue through May, but the company has not yet said how wide reaching the layoffs might be. Caterpillar is also reportedly reducing its flexible workforce of contractual employees. Cat spokesman Jim Dugan says the company will continue with short-term layoffs as needed to keep production in line with demand. But he declined to give more details. Cat officials said in January they were expecting things to pick-up in the second quarter of the year. The Peoria based company attributes the matter to economic anemia in Europe and China. Caterpillar stock also continues to lag after some record breaking increases on the major stock market indexes.