Caterpillar in the U.S.A has announced plans to close five of its American-based plants, retrenching around 820 workers as part of the company’s restricting process in response to tough market conditions. The announced staff reductions accumulate to less than 1% of the company’s global workforce.
“These decisions have enabled us to be more efficient, and better utilise our manufacturing assets”, said Caterpillar.
“We recognise that these restricting actions are painful for our dedicated workforce, their families, and the impacted communities. The decisions are difficult; however it is necessary to have the right capacity in place in order to deal with the tough market conditions that we are currently facing.”
Caterpillar began restructuring since September 2015 as global construction markets slumped. In addition to these retrenchments, 5300 other positions have been removed, along with the closing or consolidation of approximately 20 facilities.
