DEERFIELD, Ill. — Two days after the company released grim financial numbers, Caterpillar, Inc. has announced a staffing reduction.
In a statement given to WMBD News, a Caterpillar spokesperson said “Caterpillar is taking a variety of actions globally to reduce costs due to the impact of the COVID-19 pandemic and to improve our competitiveness during this period of economic uncertainty. Today, the company notified some members of its workforce that the company is reducing some full-time support, management and production positions and making reductions in its flexible workforce.”
The spokesperson confirmed the changes affect Peoria, Decatur, Aurora, and sites in Minnesota.
Both employees and agency workers were being relieved of their duties. The source wouldn’t discuss how many workers in total were affected.
The numbers released Tuesday showed the company took in $10.6 billion in sales and revenues in the first quarter of 2020, compared to $13.5 billion in Q1 of 2019. That equals a 21% difference.
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