Caterpillar follows suit, announces job cuts

| 11/3/2006

Like several other companies in the trucking industry, Caterpillar says it will cut its truck engine workforce because of a projected slump in '07 truck sales.

According to Bloomberg, Caterpillar isn't citing a specific number of job cuts, but does say that its Greenville, SC, plant will reduce engine production from 600 units a day to 100 units.

Volvo Group and Mack Truck both announced recently that they'll lay off workers in anticipation of slow sales of the new environmentally compliant - and more expensive - '07 trucks.