Caterpillar

Noi Mahoney Sunday, November 3, 2019

Caterpillar Inc. announces layoffs at plant in South Texas

Caterpillar Inc. notified 120 workers at its Victoria, Texas, facility that they will no longer have a job effective, November 1. Company officials said “market conditions” are the reason for the layoffs. “Caterpillar notified a portion of its Victoria, Texas, workforce that it is taking actions to bring production in line with demand,” according to […]

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Noi Mahoney Wednesday, July 24, 2019

Caterpillar earnings disappoint due to weaker China sales and higher production costs

Global equipment manufacturer Caterpillar’s (CAT) second quarter earnings disappointed analysts. The company cited a combination of tariffs, weaker sales in China and slower growth in the Permian Basin for the declines. The Deerfield, Illinois-based company reported a 5.1 percent decrease in second quarter net income to $1.62 billion, or $2.83 per share, compared with $1.71 […]

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