Caterpillar Inc. (CAT) announced plans to selectively align production levels with demand and resource requirements. Caterpillar has already started bringing some laid off employees back to work at various facilities, and based on current demand schedules, the company expects to return other employees to jobs as demand increases in the coming months. About 550 laid off U.S. employees have returned or will return to work before the end of 2010, including support, management and production employees.
Also, Caterpillar today began notifying about 2,500 laid off U.S. employees that they will be separated from the company. The company is offering a separation package for those employees. A breakdown of impacted employees by location will not be provided.
Looking forward, Caterpillar will adjust its workforce as production levels and resource requirements change. These actions may vary from business unit to business unit within the company.
Last week, Caterpillar updated its outlook for 2009 and issued a preliminary sales and revenues outlook for 2010.
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