Caterpillar announces job cuts
Peoria, Illinois-based Caterpillar has announced that it is cutting 20,000 jobs. The jobs include 12,000 employees—11 percent of the work force—and 8,000 contractors.
The total comprises previously announced cuts and new reductions and includes 5,000 management and support positions not previously announced. At the end of 2008, the company had 112,887 employees.
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