300 more layoffs scheduled for Decatur's Caterpillar plant

2013-05-03T16:48:00Z 2013-05-12T21:19:51Z 300 more layoffs scheduled for Decatur's Caterpillar plantBy CHRIS LUSVARDI - H&R Staff Writer Herald-Review.com

DECATUR — Caterpillar Inc. announced Friday an additional 300 employees will be laid off at the Decatur plant within the next 60 days. The latest layoffs would take effect in July.

The announcement comes a month after the manufacturer said 460 workers supplemental workers would lose their jobs effective in June.

A statement from Caterpillar said the 300 employees work in production and support/management roles. The majority of impacted employees are from the production workforce, Caterpillar officials said.

The company said weak market conditions continue to be experienced in the mining industry.

For more on this story, see Saturday’s Herald & Review.

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(3) Comments

  1. Brendon Small
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    Brendon Small - May 06, 2013 12:32 pm
    randall - Caterpillar's stock price is lagging behind its operating profitability and still under-performing the S&P and DOW ytd, i.e., it's a good time to buy. The company's interests don't always align with those of their workers but that's not exactly news. As of lunch CAT is up about half a percent.

    anderson - We can tell by the discretionary use of punctuation and elegant rape metaphor that you're a Serious Businessman with his finger on the pulse of the market and not just another scatterbrained ragemonger.

    "In another state..." Good point, lol. In another time they might have used dinosaurs to haul rocks. Can you tell me where the magic production line switch is, the one that turns mining trucks into bulldozers inside of a quarter?
  2. anderson440
    Report Abuse
    anderson440 - May 05, 2013 9:29 pm
    Excuse me what? As a business owner, you wouldn't lay-off people to save profit? So what you're trying to say is, when there is no work to be done, you just pay people to stand in your factory all day long doing nothing? Only in a liberal world. Explain how in the business world, this would help a company in the stock market? Their stocks will dip, actually for quite a while. See for a liberal like yourself, it may be real hard to understand. When a company shows a loss of confidence, or a loss of demand and supply, the stock market tends to not treat them too well. And who are you kidding? Caterpillar is a great company, its the taxes in Illinois going for the LINK CARD and Welfare that really eats them up. Why do you think all these businesses leave Illinois? Hows about the state legislature cuts taxes for businesses, allowing them to flourish and keep these people on-board with minimal work, instead of raping them to pay for these entitlement programs we cant afford? In another state, they might have kept these people. Welcome to Illinois.
  3. Randall Lee Horton
    Report Abuse
    Randall Lee Horton - May 05, 2013 12:49 pm
    300 more employees laid off. This is great news for Caterpillar. Come Monday, the stock price will shoot through the roof- again.
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