Deerfield, Illinois-based Caterpillar, the iconic manufacturer of earth moving and farming equipment, has announced that it will be closing its heavy machinery plant in Joliet, Illinois and laying off 285 employees. The company will be shifting its operations to its plant in Monterrey Mexico.
The move should not come as a surprise to employees since Caterpillar announced its intentions to shift operations to Mexico in 2015. when approximately 230 employees were laid off. Caterpillar plans to continue its restructuring activities to meet business demands that are affected by world economic cycles and increasing competition from major equipment manufacturers who are moving into the smaller earth moving and farming business. Other mass layoffs are anticipated soon.
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