Caterpillar offers 2,000 workers early retirement

BOSTON: US heavy equipment maker Caterpillar Inc on Wednesday offered voluntary early retirement packages to about 2,000 production workers.

The cuts are in addition to the 22,000 layoffs the company announced last month, as it scrambles to cope with a downturn in demand for construction and mining equipment. The packages would be offered to workers in Illinois, Colorado, Tennessee and Pennsylvania.

"Our intent is to provide eligible employees the opportunity to retire early as we expect significant declines in all geographic regions," said Sid Banwart, vice president over human services at the Peoria, Illinois-based company.