The construction and mining equipment maker said total cuts could exceed 10,000 through 2018 as mining and energy markets pose challenges conditions
Caterpillar is cutting as many as 5,000 jobs as the construction and mining equipment maker pushes to reduce costs while dealing with downturns in key markets that it serves.
The Peoria, Illinois, company said most of the cuts will occur in 2015 in its salaried and management workforce. It said total cuts could exceed 10,000 people as the company considers factories and manufacturing sites to close through 2018. The company employs more than 126,000 people worldwide.