Monday October 26, 04:34 PM
STOCKS NEWS US-Caterpillar cuts 2,500 jobs, recalls others
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1206 ET 26Oct2009-Caterpillar
(NYSE: CAT - news) cuts 2,500 jobs, recalls others
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Caterpillar Inc on Monday said it plans to permanently cut 2,500
workers, even as increasing demand would allow it to recall some employees who
had already been laid off.
The company has already brought back some workers, and estimates that due
to signs of recovery in the global economy, about 550 of those laid-off will
return by the end of 2010. The company has forecast sales next year would rise
between 10 percent and 25 percent.
For details, see
Shares of Caterpillar, a Dow component, fell 1.2 percent to $56.90.
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