CAT is currently very unstable and undergoing restructuring of epic proportions - many employees are being laid off. Many folks that Caterpillar is laying off right now have been with the company for long period of times, I am talking decades here, not years. Also, all segments of company are affected, our sales are going down, our profits are down, our headcount is down. The company is very conservative and has it own 'set ways' of doing things, do not expect that you'd be able to affect anything here. Seriously, think about it, do you want to pursue a career at a place that has been losing revenue for 4 years, where is this going to end up - how many other Caterpillar Layoffs will be on front pages of our national financial press. If you are close to Peoria, IL you may find someone who works here in our HQ and see what they have to say.
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This is the way for cat. I survived this round but what about the next one?
Cat, I should say oberhelman is accountable. How incompetent must mgt be that that can't manage the biz. And let things fester to have to fire so many at once? How stupid are all we employees that can't see this is more of a result of massive misallocation of capital under doug....billions wasted and lost, someone has to pay, it won't be stockholder that have ability to hold execs accountable, nope the easy way to recover is from workforce!
We old employees had given our youth in younger days, being loyal, being respectful and admired being in this corporation, but not now with the new set of leaders, who forego the solid foundation that Caterpillar has built on. How could I have hope that my kids, friends or relatives will continue my tradition of joining this company? it's very unsafe and insecure nowadays.
You are absolutely spot on. Many years of seniority, higher paid are being let go. Alot of good experienced people - sad to see this happen
"Not because those people have done anything wrong or are poor performers, but because the are senior employees who are at the upper end of the pay scale."
Yes Cat is going to let go employees who have many years of seniority and they have been doing that for several years. Not because those people have done anything wrong or are poor performers, but because the are senior employees who are at the upper end of the pay scale. Doug Oberhelman has made it clear to the employees that this is the "New Caterpillar", and no one is safe from the measures that will be taken to keep the stock holders happy. The problem is that he is destroying Caterpillar and its existence in the near and long term future. But he is stockpiling his millions of dollars now and does not care about what he leaves behind.
The world needs ditch diggers too
Any word on the Seguin, Texas plant? Will they close it or have heavy layoffs there?
Good luck