NEW YORK U.S.
mining equipment manufacturer Caterpillar Inc. has cut another
115 jobs at its South Milwaukee, Wis., production facility as
part of its cost-cutting strategy for the second half of the
The Peoria, Ill.-based
company has been forced to cut jobs at South Milwaukee and Oak
Creek, Wis., due to a slowdown in demand from the mining
sector. The company laid off 260 workers at South Milwaukee in
amm.com, June 24).
"We stated in our
second quarter financial results, released in July, that the
company would be taking action to reduce costs in the second
half of the year. The employee notifications in Oak Creek/South
Milwaukee are included in those actions," a Caterpillar
With a reduction in
dealer inventories and a decline in mining, 2013 is turning out
to be a tough year for Caterpillar.
During the first half
of the year the company faced temporary factory shutdowns,
rolling layoffs, a reduction in its flexible workforce and a
reduction in discretionary and program costs.
Caterpillar said it will continue to take additional cost
reduction measures in the second half of 2013.
A version of this article was first
published in AMM sister publication Steel