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Caterpillar cuts 2,500 jobs, ends some layoffs

Caterpillar cuts 2,500 jobs, ends some layoffs

U.S. heavy equipment maker Caterpillar said Monday it was cutting about 2,500 jobs and had started to bring more than 500 laid-off employees back to work, in a sign of improving economic conditions.
About 550 furloughed U.S. employees have returned or will return to work before the end of 2010, including support, management and production employees, the company said in a statement.
"We are pleased that signs of recovery in the global economy allow us to return a selected group of laid-off employees to work," said Caterpillar chairman and chief executive Jim Owens.
"But it's important to remember that we are not close to the record-breaking demand we experienced from 2004 through 2008," he said.
Also Monday, Caterpillar began notifying about 2,500 laid-off U.S. employees that they would not be returning to work, without giving details.


Updated : 2021-05-11 14:17 GMT+08:00