CHICAGO--Caterpillar Inc (CAT: 26.83, 0.41, 1.55%) the world's largest maker of construction and mining equipment, notified an additional 2,454 workers in three states on Tuesday that they were losing their jobs as the company continues to try to bring production in line with plummeting demand.The bulk of the job cuts -- nearly 1,600 in all -- will come in Illinois at the company's plants in East Peoria, which makes track-type tractors and pipe layers, and Aurora, where it makes hydraulic excavators and wheel loaders.
The company also said it is closing a fuel systems factory in Jefferson, Georgia, and moving production to two other Caterpillar plants. It is also cutting jobs in Indiana.
In January, Caterpillar announced 22,000 layoffs and in February, the company offered voluntary early retirement packages to another 2,000 production workers - FOX News
What happened here? Remember this comment from President Obama:
President Barack Obama said Wednesday that heavy-equipment maker Caterpillar has informed him it will rehire some of the thousands of workers it has laid off in recent weeks if Congress passes an economic stimulus bill."The time for talk has passed," Obama said. - NBC News
I think I vaguely remember something about the Stimulus passing. Didn't it?
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