Friday, April 29, 2016

big closures and cut backs for Caterpillar's non union factories, meanwhile, the CEO bagged an 18 million dollar pay package

Caterpillar Inc. says it will close five more factories, and cut 820 blue collar jobs, in reaction to slowing demand for construction and mining equipment worldwide by cutting capacity.

Caterpillar says it has laid off 5,300 workers between last September through March 30. With Thursday’s announcement, Caterpillar is closing or consolidating 20 facilities.

Mr. Oberhelman’s base salary last year was flat with 2014 at $1.6 million. His overall compensation increased because of larger awards of stock and options. He received stock and options worth $13 million when they were issued, compared with $8.4 million in 2014 when he received only options.

and yet in 2014 they had this world record high sand castle built to increase brand recognition

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