Caterpillar to layoff 20,000

January 26, 2009 2:50:10 PM PST
Caterpillar says it will cut 20,000 jobs. That's about 18 percent of its work force.The heavy-machinery maker has plants in Johnston and Lee counties.

Clayton's town manager told Eyewitness News as soon as he learned about the news, a representative from the town contacted Caterpillar's home office in Peoria, Illinois.

An afternoon meeting is probable at the Clayton plant.

At that time, workers are expected to learn if North Carolina's plants will be affected.

According to a Wall Street Journal report, Caterpillar reported a 32 percent drop in its fourth-quarter income.

The company sites cancelled orders and a lower demand for its products for its drop in revenue.

In December 2008, Caterpillar announced temporary layoffs at its facilities in Clayton and Sanford.

In addition, Caterpillar said it was planning additional non-production days in Clayton and Sanford in 2009.


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