Tags: OEMs

Caterpillar to close 5 more plants, cut 670 jobs as part of cost reduction plan

Feb 02, 2016

Caterpillar to close 5 more plants, cut 670 jobs as part of cost reduction plan

As part of the company's cost reduction plan introduced in the Fall of last year, Caterpillar has announced its latest round of layoffs with cuts affecting five facilities around the U.S. According to a report from the Associated Press, Cat will eliminate a total ...

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Judge throws out ICP’s antitrust suit against Caterpillar, Komatsu and Volvo CE

Jan 27, 2016

Judge throws out ICP’s antitrust suit against Caterpillar, Komatsu and Volvo CE

A lawsuit filed against three of the largest manufacturers of construction equipment alleging that they worked together to limit competition from Chinese manufacturers has been thrown out of federal court. According to a report from the Wall Street Journal, U.S. District Judge Richard ...

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CNH Industrial sales drop 24% in 3Q as company posts $128 million loss

Oct 29, 2015

CNH Industrial sales drop 24% in 3Q as company posts $128 million loss

Across the board declines continued for CNH Industrial in the third quarter, leading the company to decrease its sales forecast for the rest of the year. The company, which manufacturers the Case and New Holland brands of construction and agricultural equipment, ...

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Thousands of Caterpillar employees take early retirement as cuts continue

Oct 28, 2015

Thousands of Caterpillar employees take early retirement as cuts continue

As Caterpillar begins its extensive workforce cuts around the world, thousands of employees have decided to take an offer of early retirement. Since announcing a cost-cutting plan in September, Caterpillar has laid off hundreds at its East Peoria plant and announced the ...

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Terex profit falls 24% in 3Q as sales slip across divisions

Oct 27, 2015

Terex profit falls 24% in 3Q as sales slip across divisions

Citing a marketplace that "remains challenging," Terex announced another down quarter for the year, with its Aerial Work Platforms division continuing to provide the majority of positive news for the company. Sales for the company fell 9.3 percent from third quarter 2014 to $1.6 ...

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Volvo CE reports increased market share despite sales, profit drops in 3Q

Oct 26, 2015

Volvo CE reports increased market share despite sales, profit drops in 3Q

Despite continued growth in the North American market, Volvo Construction Equipment sales and profit dipped during the third quarter. The manufacturer saw 11.84 billion SEK in sales ($1.4 billion) during the quarter, down 5.5 percent from Q3 2014. However, even with the lower ...

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Caterpillar CEO voices confidence in strength of key industries despite 64% profit decline in 3Q

Oct 25, 2015

Caterpillar CEO voices confidence in strength of key industries despite 64% profit decline in 3Q

After preparing everyone last month for the likelihood of continued bad news on the financial front with the launch of an extensive cost-cutting plan, Caterpillar has announced another down quarter with double digit decreases to both sales and profit. Cat sales ...

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Caterpillar to cut 230 workers in East Peoria; may move Joliet parts production to Mexico

Oct 14, 2015

Caterpillar to cut 230 workers in East Peoria; may move Joliet parts production to Mexico

The first workforce cuts of Caterpillar's recently announced, extensive cost-cutting plan will come at the company's East Peoria, Illinois plant. According to a report from the Peoria Journal Star, Cat will lay off 230 employees in East Peoria. The announcement came days after the company ...

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Caterpillar closes headquarters of global mining division, moves jobs to different facility

Oct 08, 2015

Caterpillar closes headquarters of global mining division, moves jobs to different facility

Just weeks after Caterpillar announced a massive cost reduction plan and the departure of the top mining executive, the equipment manufacturer has decided to close down its global mining equipment headquarters in Oak Creek, Wisconsin. The good news for the employees at the ...

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Caterpillar plans up to 10,000 job cuts as part of extensive $1.5 billion cost reduction plan

Sep 27, 2015

Caterpillar plans up to 10,000 job cuts as part of extensive $1.5 billion cost reduction plan

In the midst of a third straight year of down sales and revenues, Caterpillar has announced further cost cutting and restructuring in order to lessen the impact of what will likely be off a fourth-straight down year in 2016—a first in ...

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Caterpillar mining VP retires amid leadership shakeup

Sep 27, 2015

Caterpillar mining VP retires amid leadership shakeup

Chris Curfman, the chief mining executive at Caterpillar, will retire at the end of the year, ending a more than 20-year career at the company. Caterpillar announced the move this week amid big changes for the company, including a massive $1.5 billion cost ...

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Caterpillar profits fall 29% in 2Q as company cuts full-year forecast

Jul 23, 2015

Caterpillar profits fall 29% in 2Q as company cuts full-year forecast

A continued and severe lack of demand for mining equipment worldwide, coupled with lower construction equipment sales in China and Brazil brought Caterpillar sales and profits down during the second quarter. In earnings released Thursday the company reported a decrease in ...

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