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Caterpillar Inc. Message Board

  • elstockjock elstockjock Jun 18, 2013 2:02 AM Flag

    More job losses

    Caterpillar Inc. on Friday said that it will lay off about a third of the workers in its South Milwaukee plant in 10 days because of lower demand for the mining equipment the Peoria-based heavy equipment manufacturer makes there.

    The move will affect about 260 production workers who will be laid off beginning June 24. Caterpillar employs about 800 production workers in South Milwaukee.

    On Tuesday, the workers, members of United Steelworkers local 1343, ratified a six-year contract that will freeze wages for current workers and create a lower wage rate for new hires.

    The new contract takes effect Sunday.

    Caterpillar told production workers in March that it had planned to lay off 40 percent of the workforce in June.

    On Friday, Caterpillar also announced two, week-long furloughs that will affect most workers at the plant, including support and management employees.

    Sales of mining equipment started to decline in the second half of 2012. China's slowdown, Europe's economic crisis and the slow recovery in the U.S. are contributing to weaker demand for raw materials. In turn, mining companies are holding off on expansions and equipment purchases. Caterpillar is the world's largest producer of both mining and construction equipment.
    This year, Caterpillar expects a 50 percent decline in sales of traditional mining equipment and a 15 percent decline in sales of machines from its Bucyrus unit. Overall sales of mining equipment are expected to decline by 30 percent.

    Caterpillar acquired the South Milwaukee plant in 2011 when it purchased Bucyrus International Inc. for $8.8 billion.

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    • Look at the slaughter of the mining companies in the Powder river basin , and tuesday the adminstration will pour on some more gloom , That is what some voted for Change , Cat took good old Diesel Fuel and American Iron , made mining work , made our economy move ,now we get windmills from China / Brazil, and Canada , Millions of jobs in metalcasting , bearing manufacture , mining equipmnet, rail cars , trains, the list can go for ever , when these job cease , who will pay taxes for all the credits to windmills and the solyndras we are being forced to waste funds on , sorry about the wisconsin workers but this is the tip of the iceberg coming .Just Drive by a dealership anywhere, so sad but it is full of yellow just sitting .

    • where is rich. he said the world was nothing but sunshine. meanwhile everyone is waiting chewing their fingernails waiting to see if bernanke buys more printed money to make the economy slow down or if the economy slows down faster than without money printing. either way its down, just how fast?

    • dont worry CAT management is laser focused on promoting homosexuality for kids and buying fraudulent chinese companies

    • i think rich said "things were looking up" in the economic recovery.......what the F is this then? wink wink

      "Sales of mining equipment started to decline in the second half of 2012. China's slowdown, Europe's economic crisis and the slow recovery in the U.S. are contributing to weaker demand for raw materials. In turn, mining companies are holding off on expansions and equipment purchases. Caterpillar is the world's largest producer of both mining and construction equipment.
      This year, Caterpillar expects a 50 percent decline in sales of traditional mining equipment and a 15 percent decline in sales of machines from its Bucyrus unit. Overall sales of mining equipment are expected to decline by 30 percent."

 
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