CHICAGO (Reuters) - Heavy equipment maker Caterpillar Inc said on Monday it would cut white-collar pay by up to 50 percent and offer buyouts to some employees as it looks to cut costs.
The news came just days after the blue-chip industrial company said it planned to lay off 814 workers at its Mossville, Illinois, engine assembly.
Word of the pay cuts at CATERPILLAR (CAT.NY)follows word last week that package delivery giant FedEx Corp was forcing salaried workers to take pay cuts of at least 5 percent and suspending the company match to the employee 401(k) retirement plan.
(Reporting by Scott Malone and James Kelleher, editing by Dave Zimmerman)
