Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Malian jihadist jailed for nine years for destroying ancient Timbuktu shrines

Read more

TALKING EUROPE

Juncker and Schulz debate the future of Europe

Read more

MEDIAWATCH

Hillary wins debate but Trump 'wins undecideds'

Read more

THE DEBATE

Who won? The impact of first Clinton-Trump debate (part 1)

Read more

THE DEBATE

Who won? The impact of first Clinton-Trump debate (part 2)

Read more

EYE ON AFRICA

Abubakar Shekau says he is still leading Boko Haram

Read more

FOCUS

Video: 'Buy Black' movement gains momentum in US

Read more

ENCORE!

Reality Hunger: David Shields does away with novelistic convention

Read more

THE INTERVIEW

Women terrorists are 'probably the wave of the future', says ex-CIA agent

Read more

Caterpillar to slash 20,000 jobs amid sales dip

Latest update : 2009-01-26

US construction equipment giant Caterpillar said it would cut about 20,000 jobs worldwide.The layoffs, equivalent to about 18 percent of its workforce, will include 4,000 production and 7,500 administrative staff along with 8,000 contract staff.

AFP - US construction equipment giant Caterpillar announced Monday that it intends to cut about 20,000 jobs worldwide to cope with plunging sales amid a sharp economic slowdown.
  
The layoffs, equivalent to about 18 percent of its workforce, will include  4,000 production and 7,500 administrative staff as well as about 8,000 contract staff.
  
The cuts would be accompanied by substantial reductions in overtime and  freeze on hiring and salaries for administrative staff, the company said as it reported 2008 fourth-quarter profit dropped 32 percent to 661 million dollars.

Date created : 2009-01-26

COMMENT(S)