CATERPILLAR SUPPLIERS ENDURE PLUMMETING SALES BEFORE PUBLIC ANNOUNCEMENT
Caterpillar suppliers experienced slumping sales long before the company made its major cost-cutting program announcement, reports Reuters.
Supplier Acme Industries had to react to Caterpillar’s declining sales by cutting their staff to 200 to 240, according to Reuters.
Mike Schroeder, joint owner of DuPage Precision Products of Aurora, Ill., which supplies diesel engines for Caterpillar’s mining and construction business said that suppliers have to remain flexible when ordering downturns occur.
“Obviously this affects us, our business and our workers,” Schroeder told Reuters. “Like everybody else, we have to make adjustments.”