Caterpillar to cut more than 10,000 jobs

More tough economic realities for the country to absorb. When the worlds economy struggles, anybody with an international customer base will struggle.

Clips from the article below..

"The moves are aimed at cutting $1.5 billion in annual costs as the global growth outlook continues to darken."

"Caterpillar said the 10,000 job cut estimate includes the potential closing of more than 20 unspecified manufacturing facilities.
Caterpillar also said it will offer a voluntary retirement enhancement program for qualifying employees that will be completed by the end of 2015."

money.cnn.com...

The world still needs tractors, guess they'll be making them somewhere else…

Caterpillar to cut 230 jobs from Illinois plant in move of 2 production lines to Mexico.

Article

a reply to: Bluntone22

It's bad. Three machine shops that build parts for Cat are running on skeleton crews. All three had well over 100 employees and they are under 30.

Everyone is hurting, while the idiot talking heads we elect keep saying the economy is fine and unemployment is at record lows.

Buckle up, it's gonna get bumpy.

a reply to: Bluntone22

This is a company that prided itself on its quality machinery. That explains the 100 dollar caterpillar watches.

But when automatons can churn out dozers and rollers quicker and cheaper then humans can it's no wonder why they have laid off so many workers.

I love Michio Kaku, but when he said that Automatons are the future I wanted to punch him.

originally posted by: Thecakeisalie
a reply to: Bluntone22

This is a company that prided itself on its quality machinery. That explains the 100 dollar caterpillar watches.

But when automatons can churn out dozers and rollers quicker and cheaper then humans can it's no wonder why they have laid off so many workers.

I love Michio Kaku, but when he said that Automatons are the future I wanted to punch him.

It looks like creating quality lasting products is not as effective as the new method of building things designed to break and be replaced.- end sarcasm.

We need to automate as much as possible, but we need a new system of government to ensure that automation doesn't destroy the middle class. The current system doesn't have any protection against obsolescence through technology.

If someones job is replaced by technology we need a system in place that provides for the person who lost their job and can be retrained in a job with similar income. Unemployment is not enough, nor last long enough for many to receive proper training for a like salaried job.

It is no one's fault that technology is the future, but it is everyone's fault if we don't find a way to fix unemployment and poverty as we transition to the age of technology.

a reply to: Bluntone22
Its ALL CATS Fault, why I say, there is a division of Caterpillar that make the real big steam shovels (old term) in South Milwaukee Wisconsin, just this year very large company wanted to purchase 8 of these machines, which cost about $3 Million dollars apiece, they (the purchaser) only had one request that they were paint Blue like the rest of the companies equipment, CAT said No, the purchase responded that they will pay to have them painted blue, CAT again said no, that there machines will be painted yellow, so the purchaser left the table and went to Harnischfeger p&h. and spent $24 Million for there Blue machine

Its not the economy, its the company's, so shame on them.

a reply to: Bluntone22

The main reason for the cut and moving to Mexico is to corner the Cuban agricultural market. Watch when it happens...they are going to practically give their machinery away to get the largest foothold over Deere. I've been watching this unfold for a while. Deere and CAT have been fighting over Cuba for a while....different but similar industry, but watch CAT take agriculture there by storm.

a reply to: Bluntone22

Our government needs to invest in rebuilding our crumbling infrastructure. This will not only help companies like Caterpillar, John Deere and others; it will also create much needed jobs on the local level.

This could easily paid for by redistributing tax dollars from the bloated defense budget and also excess and unnecessary foreign aid.

Peace
Andy

The markets going to feel that hard.

market correction incoming!

i work on the parts end of a dealership, and the last few months have shown a huge uptick in back ordered parts.
the remarks given are "looking for retooling" sourcing component" "demand exceded forecast"..
i learned back in 08 when everything fell apart that these are code words for " lost another supplier..searching for new supplier".
if these backorders are any sign of the economy, we are losing companies at an alarming rate again.

a reply to: autopat51


Nothing to see here,,, move along, move along..


But the economy is improving dammit!
Lol

a reply to: autopat51
Can you explain what your saying more?

Tha ks

a reply to: [post=19850714]onequestion[/post

many companies may make the many parts that make up a component....steering gear for example.
if one or more companies go under...the part does not get made.
so the search goes out for new co. to be re-tooled for the missing component.

a reply to: autopat51

Oh wow! Crazy... So some of the smaller companies are having issues because the economy isn't supporting the need for new heavy building equipment. Means people don't beed work done on their house or are we're building a lot less?

What's the root cause economic or we just don't need to build as much?

someone else will need to come in and deal with the customer demand, sounds more like a friendly acquisition in the making more than anything else