Days after the company’s announcement of a 21-percent drop in sales and revenues, Caterpillar has announced another round of layoffs in response to the negative impacts of the COVID-19 coronavirus pandemic.
According to reports from CIproud.com and the Peoria Journal-Star, Cat sent an “unspecified amount of employees” layoff notices on Thursday. Cat confirmed to both news outlets that the cuts were being made to “reduce costs” due to the coronavirus pandemic.
Cat is not specifying how many layoffs it has made because the cuts are happening at “facilities across the world.” Here’s the full statement from Cat spokesperson Kate Kenny provided to CIproud.com:
“Caterpillar is taking a variety of actions globally to reduce costs due to the impact of the COVID-19 pandemic and to improve our competitiveness during this period of economic uncertainty. Today, the company notified some members of its workforce that the company is reducing some full-time support, management and production positions and making reductions in its flexible workforce.
We aren’t going to discuss numbers of impacted people at each location. The actions are global in nature and impact both employees and agency workers.”
In March, Cat made layoffs to an unspecified number of employees at East Peoria building KK. That initial round of layoffs followed the company’s decision to close its Mapleton, Illinois, cast iron foundry. Though Cat hasn’t provided financial guidance for the rest of 2020, it has said more layoffs could come and more facilities could be closed in response to the pandemic’s impact.