Caterpillar layoffs shake up headquarters of Peoria, Ill.

01/29/2009 | TIME (subscription required)

Caterpillar's announcement that it would eliminate 20,000 jobs, or one-fifth of its global work force, has shaken up some residents of Peoria, Ill. The iconic equipment manufacturer, based in Peoria, has buoyed the local economy for decades in the city of around 113,000 people. Approximately 25% of Caterpillar's global work force is located in Illinois, mostly around Peoria.

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