Caterpillar will cut more than 900 employees worldwide, it announced last week.
The company expects to reach its goals through the previously announced closing of its Perkins Engines manufacturing facility in Shrewsbury, U.K., and employment reductions at selected business units in the United States.
The company will close the Shrewsbury facility and reallocate production to other Caterpillar engine facilities. The closing will affect about 520 employees.
In the U.S., the company plans to cut about 420 people, primarily through a voluntary early retirement program.
"I'm confident these actions further position Caterpillar for the long-term growth expected by our employees, customers, dealers and shareholders," said Caterpillar Chairman and CEO Glen Barton.
In conjunction with the plant closing and employment reduction, Caterpillar will take a pre-tax charge of about $55 million.
The company expects to reach its goals through the previously announced closing of its Perkins Engines manufacturing facility in Shrewsbury, U.K., and employment reductions at selected business units in the United States.
The company will close the Shrewsbury facility and reallocate production to other Caterpillar engine facilities. The closing will affect about 520 employees.
In the U.S., the company plans to cut about 420 people, primarily through a voluntary early retirement program.
"I'm confident these actions further position Caterpillar for the long-term growth expected by our employees, customers, dealers and shareholders," said Caterpillar Chairman and CEO Glen Barton.
In conjunction with the plant closing and employment reduction, Caterpillar will take a pre-tax charge of about $55 million.
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