Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent.
Caterpillar has dismissed 120 temporary workers at a plant in Texas in line with their need to cut production due to declining sales amid the troubling U.S trade war with China. The lay-off took place last week at the hydraulic excavator facility in Victoria with 820 employees, as per reports.
Caterpillar’s spokeswoman, Kate Kenny referred the decision to “market conditions.” but did not comment on the workforce reductions at other facilities.
Last month, the company announced to cut production after sales declined across all product segments for maximum regions in the latest quarter. Sales in Asia-Pacific declined by 13% and the company faced low demand in China.
Workforce Solutions, a state-funded local workforce development agency run by Henry Guajardo informed all affected employees were all production workers and have come to his office seeking help to secure a livelihood.
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