
In today’s tight economy, companies are being forced to take a step back and look at their operation as a whole, and reevaluating what makes sense for them into terms of both workforce and operations. For many, this means laying-off individuals in order to survive, for others this means finding creative ways to save money and for some its a combination of the two.
Some of the most recent news on this front comes out of Caterpillar, who offered 2,000 of their employees the option of early retirement. While in January the company announced the layoff of more than 22,000, this most recent effort seems to be gesture of goodwill toward their current employees. The company has been seeing sales drop significantly as with construction tapering off, the need for bulldozers, excavators and the like are in much less demand. CEO Owens did, however, note that if Obama’s American Recovery and Reinvestment Plan passes, that he’d be able to hire back some of those individuals that were previously let go.
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- Caterpillar, Layoffs, Obama, Retirement, Severance