Caterpillar to cut more than 10,000 jobs - Sep. 24, 2015 - 0 views
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This time at a giant in U.S. business. Caterpillar (CAT) announced on Thursday that job cuts could exceed 10,000 through 2018. Up to 5,000 employees will lose jobs between now and the end of 2016.
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The moves are aimed at cutting $1.5 billion in annual costs as the global growth outlook continues to darken.
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Nearly 10% of the company's revenue is generated in China, where the country's economy is shifting from infrastructure-led growth to being more consumer driven.
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