updated: 8/2/2012 7:52:21 AM
Job cuts are hitting a key Tippecanoe County employer. Caterpillar Inc. (NYSE: CAT) is cutting 167 positions at its Lafayette Engine Center. The reductions are being made within the plant's flexible work force.
The Greater Lafayette Progress website shows Caterpillar has more than 1,600 workers in Tippecanoe County.
August 2, 2012
Caterpillar uses a flexible workforce, made up of agency workers and part-time and temporary Caterpillar employees, at many of its facilities to be able to react quickly to business conditions. The flexible workforce fluctuates up or down with variations in demand. Caterpillar’s Lafayette Engine Center has such a workforce and announced today that it is reducing its flexible workforce by 167 people beginning in September in order to balance production needs with demand. While the company remains very positive on the long-term prospects for global growth, businesses and plants within Caterpillar must take necessary short-term actions such as this to align production with demand. These adjustments are consistent with the sales and revenues outlook we provided on July 25, 2012.
Source: Caterpillar Inc., Greater Lafayette Progress