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Caterpillar to slash jobs after fourth quarter loss
US’s largest construction equipment manufacturer, Caterpillar Inc., has reported 2008 fourth-quarter loss of 32% to USD 661 million, down from USD 975 million a year earlier. Following the losses, the company has also decided to reduce its workforce by about 20,000 employees, equivalent to almost 18% of its staff. The layoffs, the worst since... »
