Caterpillar Inc., the world’s biggest construction and mining equipment producer, cut its 2015 earnings forecast on 24th of September. As it was stated by the company, sluggish global economic recovery and sliding commodity prices were to blame for the recent cuts in Caterpillar Inc.’s forecast for 2015.
As most corporations are beginning to outsource their jobs from the United States, Caterpillar is in the process of bringing some of those jobs back home. This week, Caterpillar opened a new axle-manufacturing plant in Winston-Salem, N.C., which will eventually have 398 full-time and 112 contract workforce employees. Ninety percent of the Caterpillar equipment made at this plant will be sold internationally. This plant is also crucial to Caterpillar’s expansion into the mining sector, both domestically and internationally.