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October 27, 2009

Caterpillar cuts 2,500 workers

PEORIA, Ill. (AP) — Caterpillar Inc. said Monday about 2,500 laid-off employees will be permanently cut from the company and 550 others will be brought back to work by the end of next year.

The workers are among more than 22,000 laid off earlier this year as Caterpillar dramatically scaled back production due to weaker demand amid the global economic downturn. The Peoria, Ill.-based company has cut 16 percent of its work force, which now stands at just above 94,000.


 
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