My father has worked for Cat for 33 years as an upper middle manager. Mid september they told him they were eliminating his position but that they had another for him to take. The new position would start October 1st but would be a 43% pay-cut. He would loose his bonus but would have a job. He came into the office october 1st and was preeminently laid off. No severance, nothing. He has since gone back to the owners of the company and was able to secure a severance package that was not to terrible.
I know that have been moving a lot of people around and down sizing a good number of employees.
Reply With Quote