Caterpillar’s second-quarter earnings report was another ugly one, with profit declines and a cut in the company’s annual earnings projections.
Of bigger concern: The potential for more job cuts. From the story in USA Today:
He said the company already has temporarily closed factories and had rolling layoffs. “We’ve taken significant action already, and we will be taking additional cost reduction measures in the second half of 2013,” he said.
Caterpillar cut its global full-time work force by more than 10,000 people compared with the second quarter of last year. The company had 122,402 employees at the end of June. The temporary work force also dropped by 9,633 during the quarter.
Also, check out coverage from Reuters, Bloomberg and the Milwaukee Journal Sentinel.
South Milwaukee Blog 
Not good.
we knew this was coming with CAT. I blame the CEO who had B-E. They had a great company and it is truly sad to see this company being desimated by this greedy company.