In the News

Caterpillar Employees Satisfied Overall; Company Offers 2,000 Early Retirement

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.

In looking at the company reviews and ratings for Caterpillar on Glassdoor, it isn’t surprising that they are trying to do something somewhat positive for their employees given their current financial situation.  Here’s how Caterpillar and its CEO rate as a whole:

Glassdoor Report
Company Rating CEO Name CEO Rating
Caterpillar 3.7 Jim Owens 79%

Have a look at some recent quotes from both current and past employees that demonstrate the mutual respect between company and staff:

Well this was a good place to work I enjoyed it. The pay was good and the environment was friendly. I was let go due to the current economic situation. I would like to go back if things turn around. Overall I would say that this is a great company

The environment of friendly people. People are genuinely concerned for each other, and overall there is not a sense of competition but of support and encouragement for each other. There is a good diversity in ethnicity, gender, and age, and everyone is very welcoming in the office environment.

There are a lot of opportunities to work in diifferent areas. They are also focusing more on work life balance and have experimented with flexible work hours, compressed work week and the ability to work from home. The people who work at Caterpillar are extraordinary to work with and teamwork is very evident.