TITLE

Caterpillar to eliminate 20,000 jobs

PUB. DATE
February 2009
SOURCE
Las Vegas Business Press (10712186);2/9/2009, Vol. 26 Issue 6, p19
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article announces the plan of construction and mining equipment company Caterpillar Inc. to remove 20,000 positions as a result of the global economic downturn. The company posted a 28 percent decline in profits for the fourth quarter of 2008. According to Caterpillar Chairman and Chief Executive Officer (CEO) Jim Owens, the company needs to lower production and costs as key industries were affected by declining global economy and commodity prices.
ACCESSION #
40538011

 

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