Caterpillar announces restructuring and cost-reduction plans

摘要

Caterpillar Inc., Peoria, Ill., has announced significant restructuring and cost-reduction actions that are expected to lower operating costs by about $1.5 billion annually once fully implemented. The cost-reduction steps will begin in late 2015 and reflect recent, current, and expected market conditions. The company's 2015 sales and revenues for 2015 are expected to be about $48 billion-$1 billion lower than the previous outlook. For 2016 sales and revenues are expected to be about 5 percent below 2015.