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Cat cutting more jobs

EQUIPMENT producer Caterpillar, which recently lost hundreds of positions from its southeastern W...

Donna Schmidt
Cat cutting more jobs

Spokeswoman Rachel Potts told the Milwaukee Business Journal that the Illinois-based company’s cuts would be taken from multiple locations in the Milwaukee area, though she did not elaborate on specific positions or numbers.

She added that layoff notices had already been issued in South Milwaukee and Oak Creek, and will be taken in addition to the 260 production positions it already eliminated over the northern summer in South Milwaukee.

“We stated in our second quarter financial results released in July that the company would be taking actions to reduce costs in the second half of the year,” she told the paper.

“The employee notifications in both Oak Creek/South Milwaukee and Decatur are included in those actions.”

Oak Creek is home to the Big Yellow’s global mining headquarters, and the company has a large facility in South Milwaukee.

Cat’s first half was riddled with rolling furloughs and temporary factory shutdowns as well as flexible worker reductions and lowered costs. These only seemed to offer temporary respite.

It went on to report a 43% drop in second-quarter profits following more than $US1 billion in dealer machine inventory reductions. It also took a 16% hit on sales.

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