Caterpillar offers early retirement

February 11, 2009 8:05:56 AM PST
Caterpillar Inc. is offering voluntary early retirement packages to about 2,000 production workers as it expects lower demand for heavy equipment amid the global economic slowdown. The maker of mining and construction machinery says the package is being offered to workers in Illinois, Colorado, Tennessee and Pennsylvania.

The plan is on top of previously announced reductions, and more voluntary and involuntary cuts may be needed.

Caterpillar says eligibility for the program is based on age and years of service.

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