BUSINESS BRIEFING / EQUIPMENT
Times Wire Reports
Caterpillar Inc. announced plans to lay off more than 2,400 employees at five plants in Illinois, Indiana and Georgia as the heavy-equipment maker continues to cut costs amid the global economic downturn.
Peoria, Ill.-based Caterpillar, the world’s largest maker of mining and construction equipment, has seen its sales wither as the sluggish world economy and credit crisis weaken demand for its products.
