Caterpillar to close facilities, could cut 880 jobs


By Rajesh Kumar SinghCHICAGO (Reuters) - Caterpillar Inc will close two facilities and is contemplating the closure of its engine manufacturing plant in Illinois, which together could potentially result in about 880 job losses, a company spokeswoman told Reuters on Friday.

The restructuring, announced over the past two months, is part of the heavy equipment maker's overall strategy to boost profitability and make itself better able to manage business cycles.The move will affect its work tools facility in Waco, Texas, and its demonstration center.....

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