Caterpillar announced that it plans to close five plants and trim about 670 jobs in Illinois and several other states, in the latest phase of a larger cost-cutting campaign announced in 2015. The company will cut about 230 jobs for office and production workers at a major manufacturing campus in East Peoria, Illinois, where Caterpillar says it's consolidating some manufacturing and transferring some work to outside contractors. Another 120 employees there will be placed on indefinite layoff.
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