Caterpillar closes Iowa facility
International manufacturing company Caterpillar Inc. will close its Elkader, IA facility by the end of this year. In a statement released this afternoon, company officials announced plans to consolidate the plant’s operations with a location in Wamego, Kan. About 75 management and production positions will be affected. “The actions taken today will help optimize current and future manufacturing operations and...
Cummins announces job cuts up to 2,000 by year end
Third quarter revenues of $4.6 billion, EBIT of 12.5 percent of sales Full year outlook revised down with revenue expected to be flat to down 2 percent and EBIT to be in the range of 12.75 to 13.0 percent of sales Cummins Inc. has announced restructuring and cost reduction actions to respond to a slowdown in global markets and lowered its outlook for 2015. The Company expects to reduce its professional workforce by up to 2,000...
JCB to cut 400 jobs due to global market slump
JCB says it is to cut 400 jobs over the coming weeks after a “dramatic” slow down in world markets. The Staffordshire-based construction firm said the equipment market in Brazil, Russia, China and India was down 43% on the same period in 2014. Staff across the UK could be affected and union consultation has begun, chief executive Graeme Macdonald said. He said there was a “perfect storm” across...
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