Tag

The weak September jobs report and downward revisions to the prior two months raised fresh fears about the health of the USA economy, which appears to have weakened amid a slowing global economy and recent market turbulence.

Of the $1.5 billion in expected savings, the company says slightly less than half will be the result of lower selling, general and administrative costs, with effects being seen in 2016 across the company.

Global equipment giant Caterpillar announced September 24 it could be cutting about 10,000 jobs in the coming years as part of across-the-board cost-cutting measures meant to save the company $1.5 billion a year once implemented.

Caterpillar, which has a large Wisconsin presence following its 2010 acquisition of South Milwaukee-based Bucyrus worldwide Inc., is undergoing restructuring and cost reduction actions due to weakened sales and revenue outlooks.

Global equipment giant Caterpillar announced September 24 it could be cutting about 10,000 jobs in the coming years as part of across-the-board cost-cutting measures meant to save the company $1.5 billion a year once implemented.