WMBD/WYZZ - PEORIA -- Caterpillar set new financial records in 2008, but 2009 won't be a banner year for Big Yellow.
CAT has already enacted plans to eliminate about 20,000 jobs from the company to compensate for the economic downturn. A CAT spokesperson says globally about 4,000 full time production employees have either taken voluntary or involuntary separations.
Almost 8,000 temporary, contract and agency workers have been let go. Around 2,500 support and management employees took voluntary separations.
CAT is preparing for as many as five-thousand support and management employees will be laid off during the first quarter.
“Certainly based on the number of employees CAT has in Central Illinois, there will be a number of employees and families here in Central Illinois impacted. Some have already been impacted by these announcements and as we move forward with additional cuts families will be impacted,’ said CAT spokesperson Jim Dugan.