Caterpillar announced Thursday that it expects to permanently reduce its workforce by 4,000 to 5,000 by the end of 2016. It said the cuts could reach 10,000 through 2018.
The reductions are part of a corporate restructuring that the company said will lower operating costs by about $1.5 billion annually once implemented.
The reductions are part of a corporate restructuring that the company said will lower operating costs by about $1.5 billion annually once implemented.