900 Gone, and rumors are many more soon

We make industrial equipment, to build things, the backbone of the economy IMO. I'm in finance, and I can tell you we're dead, so far below former years' sales it's not even funny. We didn't lose to the competition, we don't have terrible management, there's just no business.

So when I hear these stories of how great things are I wanna barf. If things were going well, we would not be so dead and laying everyone off.

https://www.foxbusiness.com/markets/caterpillar-could-lay-off-900-workers-amid-facility-closures

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Keep in mind that the above may be referring to one area of the business. Caterpillar is diverse company providing services and products to a large variation of business segments and customers. Still a great company and many areas are thriving. Seriously.

https://www.aggman.com/cat-layoffs-cut-900-jobs/

Caterpillar used to be a great company.

Not any more.

I retired in 2015.

My son works there and he's not as happy as I was.

"it's not that bad. we make money, that's the bottom line."

No, we don't, which is why the constant layoffs. The "profit" you speak of is called financial engineering. Look it up, going on everywhere these days.

it's not that bad. we make money, that's the bottom line.

Very few talk about the lack of demand for investment equipment - it’s a pretty recent phenomena in economics - because innovation has ground to a halt across many industries. Tech is diffusing throughout the world, not getting better in the US/Europe like it used to over the past 100 yrs. don’t worry you’re not crazy, just search for authors writing about the great stagnation and you’ll find some people tuned in to the reality of low productivity growth holding wages down even though the labor market is “very tight”

Thread regarding Caterpillar Inc. layoffs

900 Gone, and rumors are many more soon

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