inauspicious start for American workers.
A slew of American heavyweight companies, including Caterpillar, Pfizer, Sprint Nextel, Home Depot and General Motors, announced thousands of job cuts Monday. What's more, a group of business economists predicted many more job losses in the year ahead.
Caterpillar had by far the worst news of the group. The world's largest heavy equipment maker announced Monday it was slashing up to 5,000 jobs on top of several earlier actions. The latest cuts of support and management employees will be made globally by the end of March. An additional 2,500 workers already have accepted buyout offers, and ties have been severed with about 8,000 contract workers worldwide. In addition, about 4,000 full-time factory workers already have been let go.
CATERPILLAR JOB LOSSES
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martyn williams
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