Caterpillar Inc.'s Cost Cutting

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Caterpillar Inc. seems to be doing all it can to save money in this economy. There have been lay-offs of workers, temporary factory shut-downs, instituted a hiring freeze, and now says that it's cutting out executive compensation by up to 50%.

There is also to be a reduction of pay for senior managers next year, of up to 35%, with other management and staff to see up to a 15% reduction.

Some American employees of Caterpillar Inc. are being offered incentives to leave the company voluntarily.