Caterpillar confirms plans to cut 80 jobs in Winston-Salem
WINSTON-SALEM, N.C. (AP) — Caterpillar Inc. has confirmed that it will eliminate 80 jobs at its Winston-Salem plant by the end of the year.
The company said in a news release Thursday that the layoffs, which are expected to take effect on Dec. 31, will reduce the plant’s workforce to 140 employees.
The planned reduction had been announced by Caterpillar this summer as part of a global operations restructuring.
With demand for mining trucks and equipment dropping, Caterpillar is shifting primary operations at the $426 million plant from axle manufacturing for mining trucks to railroad equipment for its Progress Rail Services Co. subsidiary. Progress Rail will officially take over the plant Jan. 1.
Officials say Caterpillar will help affected workers by offering severance packages and outplacement services from other agencies.