Shares of heavy-equipment maker Caterpillar (CAT) are down sharply after the company said today it is cutting its sales outlook for the year and will slash as many as 5,000 jobs between now and the end of 2016 in a cost-cutting move amid tough conditions in its energy, mining and construction businesses. Caterpillar also warned that total layoffs could … Continue reading
“We’re looking at mining continuing to falter into 2014” says Caterpillar’s Chairman and Chief Executive Continue reading
Caterpillar Inc (CAT.N), the world’s largest maker of construction equipment, plans to cut 1,400 jobs at a plant near Charleroi in Belgium due to high costs and the weak European economy, the group’s Belgian unit said on Thursday. The cuts will come at the Gosselies site just outside of Charleroi, one of the largest Caterpillar … Continue reading
The geographical shift of the middle class has implications for supply chains says The Future of Manufacturing, A World Economic Forum Report in collaboration with Deloitte Touche Tohmatsu Limited The rise of demand centres in Asia, along with the typical costs that accompany more developed nations, will likely increase localization of production. Increasingly expensive logistics are leading some companies, such as … Continue reading
A growing number of executives of U.S.-based companies are repatriating their manufacturing capabilities — moving some production operations back from overseas. One such company is Ford, which announced last year that it will move jobs from China and Mexico back to the U.S. Another example is Caterpillar, which is investing $120 million in a new … Continue reading
Caterpillar Inc. is set to open a manufacturing plant in northeast Georgia in 2013, the latest in a string of economic development victories for the State. The $200 million factory will employ about 1,400 people and produce construction equipment currently manufactured in Sagami, Japan. The project first reported in November 2011, will begin during the … Continue reading