CWS 3.0: October 24, 2012

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Caterpillar Lowers Percentage of Flexible Workers

Caterpillar Inc.’s flexible workforce represented 14.4 percent of its total workforce in the third quarter, down from 16.8 percent in the third quarter of 2011.

The Peoria, Ill.-based heavy equipment maker reported its flexible workforce totaled 21,652 in the third quarter out of a total workforce of 150,765. The company had a 24,606-member flexible workforce in the third quarter of 2011 and a total workforce of 121,513.

Caterpillar’s increase in total workforce was the result of growth and acquisitions that were partially offset by divestitures, according to the company.

Caterpillar announced the workforce numbers in its quarterly earnings release. It’s one of the relatively few companies to release such numbers on flexible workers.

The company posted revenue of $16.45 billion in the third quarter, up 4.6 percent from the same period in the previous year. The company also reported in a conference call with analysts that it’s planning temporary layoffs and rolling factory shutdowns to slow production to reduce inventory of equipment for sale.

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