Caterpillar Shocker: Industrial Bellweather To Fire Up To 10,000; Slashes Revenue Outlook
September 24, 2015 at 20:00 PM EDT
Caterpillar shocked investors with a $1.5 billion cost-cutting announcement, which includes the firing of almost 10,000 people through 2018. The company cut its revenue outlook by 5% and admitted sales and revenues decreased the last three years.