Caterpillar says it may lay off 2,000 workers at Belgium plant
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Workers walk past Caterpillar excavator machines at a factory in Gosselies February 28, 2013. REUTERS/Eric Vidal/File Photo
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(Reuters) - Heavy machinery maker Caterpillar Inc (NYSE: CAT) said it could lay off about 2,000 employees at a plant in Belgium, as it considers shifting production to other facilities as part of a restructuring program announced last year.
The company, which manufactures construction equipment at the plant in Gosselies, Belgium said it may shift the production to its facility at Grenoble, France and other locations outside of Europe.
Caterpillar said in September 2015 that it will cut as many as 10,000 jobs through 2018 and also might close or consolidate more than 20 plants around the world as it grappled with the mining and energy downturn.
In July, Caterpillar said that global uncertainty, the vote in Britain to leave the European Union and the attempted coup in Turkey had heightened risks, especially in Europe.
(Reporting by Gaurika Juneja in Bengaluru; Editing by Amrutha Gayathri)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Caterpillar (CAT) Offers FY17 Guidance Update at Credit Suisse Conference
- Egypt sharply increases customs duties as it seeks to curb imports
- Uzbekistan's interim leader expected to win presidential election
Create E-mail Alert Related CategoriesCorporate News, General News, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!