PEORIA, Ill. - December 22, 2008 - The world's largest maker of mining and construction equipment
also says it will reduce compensation for senior managers by 5
percent to 35 percent in 2009. Other management and support staff
will see a reduction of up to 15 percent.
The Peoria, Ill.-based company says the cuts reflect planned
reductions in its incentive program and equity-based compensation.
Caterpillar Inc. is also offering incentives to U.S. management
and support employees to voluntarily leave the company. Eligible
employees have until Jan. 12, 2009, to join the program.
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