Caterpillar Says It Could Cut 10,000 Jobs Within 3 Years

Sep 25, 2015

Credit Caterpillar

Peoria Mayor Jim Ardis says he expects the city and region to absorb a sizable hit as manufacturer Caterpillar plans to reduce its workforce by as many as 10,000 people.  

Ardis told The Associated Press Thursday that the company has not shared specifics about the local impact of what could amount to an 8 percent reduction to its global workforce of 126,800 by 2018. Half of those cuts are expected by the end of next year.  

Caterpillar Chairman and CEO Doug Oberhelman said plans for a new global headquarters in Peoria ``still stand'' but with no firm start date in sight. The project was announced to great local fanfare in February.  

Ardis said he's ``been assured'' that the latest downsizing will have ``zero impact'' on the new Caterpillar headquarters.