Caterpillar plans to cut 10000 jobs; new-home sales surge to 7-year high

25 Sep 2015 | Author: | No comments yet »

Caterpillar slashes revenue forecast, may cut up to 10,000 jobs.

Caterpillar slashed its 2015 revenue forecast and said it could cut up to 10,000 jobs through 2018, joining a list of big US industrial companies grappling with the shock waves from the mining and energy downturn. Caterpillar expects revenue to fall in 2015, for the third straight year, to $48 billion (€42.74bn), below the average analyst estimate of $48.82 billion.

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