Industrials
Caterpillar Cuts 2,500 Idled Workers
Stock quotes in this article:CAT
"We are pleased that signs of recovery in the global economy allow us to return a selected group of laid-off employees to work," said the company's chief, Jim Owens, in a prepared statement, before offering the obligatory qualification. "But it's important to remember that we are not close to the record-breaking demand we experienced from 2004 through 2008."
Also last week, Caterpillar announced that Douglas Oberhelman, head of the company's engines segment, will take over the CEO post from Owens, who will retire in June. Caterpillar shares were trading Monday midday at $56.89, down 1.2%. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
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