Caterpillar to Shutter Facilities, Lay Off Employees in 4Q
aterpillar Inc. said Monday that due to lower demand for heavy-duty truck engines, it will temporarily shut several plants and lay off about 3,000 people during the fourth quarter.
The affected facilities are an engine center in Mossville, Ill., a foundry in Mapleton, Ill. and fuel systems facilities in Pontiac, Ill., Jefferson, Ga. and Thomasville, Ga., the company said in a statement.
The Peoria, Ill-based company said up to 3,270 management, salaried and manufacturing employees will be affected. This does include 470 full-time hourly employees whose layoffs were previously announced on Sept. 6.
Last week, three company executives announced their retirements, and Caterpillar said it will eliminate its diversified products division, which handles a variety of heavy equipment from mining trucks to road pavers, the Associated Press reported.
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