Caterpillar may cut up to 880 jobs as it sheds more facilities: Reuters
https://www.bizjournals.com/milwauk...illar-may-cut-up-to-880-jobs-as-it-sheds.html
David Schuyler – Digital Producer, Milwaukee Business Journal
12 hours ago
Caterpillar Inc., which has a mining equipment factory in South Milwaukee, plans to close facilities in Texas and Panama and is considering closing a plant in Illinois. All together the moves could result in the elimination of 880 jobs,
Reuters is reporting.
A company spokeswoman told Reuters Friday that employees of the work tools facility in Waco, Texas, and a demonstration center in Panama were told of the impending closures in January. The work from the Waco facility, which has about 200 employees, will shift to Wamego, Kan. The Panama facility has about 80 workers.
In addition, Caterpillar (NYSE: CAT) is also contemplating the closure of an engine plant in LaGrange, Ill., which has about 600 employees.
The restructuring is part of an ongoing effort to boost profitability and improve management of business cycles, the spokeswoman told Reuters. In March 2017, Deerfield, Ill.-based Caterpillar announced the closure of its factory in Aurora, Ill., affecting 800 workers. That plant is expected to close by the end of 2018.