List Your Equipment For Free  /  Seller Login

Caterpillar to Trim 200 Jobs in Spalding, Other Georgia Operations Escape Cost-cutting Moves

Tue August 20, 2002 - National Edition
Construction Equipment Guide


Caterpillar will lay off about 300 workers, including 200 at its Spalding County plant, because of continued weak demand for its large power services systems.

The company said the layoffs won’t affect other Georgia operations in Atlanta, Jefferson, LaGrange, Thomasville and Toccoa.

The Spalding County plant, which opened in April 2000, is just outside Griffin.

After the layoffs, which became effective on Aug. 19, the plant will have about 500 employees.

The other job cuts will be in Lafayette, IN, said Benjamin S. Cordani, a spokesman for Peoria, IL-based Caterpillar.

The layoff news followed disappointing second-quarter results the company released last month.

Net income for the quarter ended June 30 tumbled 26.2 percent to $200 million, or 58 cents per share, from $271 million, or 79 cents per share, in the year-earlier period.

Part of that decline was due to a drop in sales of large engines, which is what the Spalding plant produced.

To cut costs, the company began furloughing employees one week a month earlier this year.




Today's top stories

Florida's Sarasota Bradenton International Airport Sees $105M Terminal Expansion

Louisville Pump Station Receives $230M Update

Rokbak Haul Track Telematics Boost Uptime With Proactive Maintenance

SISO Air, InTerra Form Strategic Reseller Agreement

Hitachi Construction Machinery Wins Silver in 2024 Anthem Award

Balfour Beatty's Carolinas Operations Selected for Over $36M in Special Project Works

Caterpillar to Spotlight 'Next 100 Years' at CES 2025

Liebherr to Exhibit at World of Concrete 2025


 







\\ \\ \\