CATERPILLAR LAYOFF: CATERPILLAR MASSIVE JOB LAYOFF OF 20,000

Caterpillar Inc. is the largest maker of construction and mining equipment, gas engines, turbines etc. Caterpillar has decided to cut down its total work force by about 18% which amounts to a massive job cut of 20,000 !!

The move comes after a 32% fall in fourth quarter profit and a bleak 2009 outlook which predicts at least 25% further drop in demand for its goods.
Read more about Caterpillar job layoff on Marketwatch.

Jan 27, 2009

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