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Headquarters:
100 N.E. Adams St.
Peoria, IL 61629
Employees: 105,700
CEO: Doug Oberhelman
Stock Symbol: CAT
Website: http://www.cat.com
Career Site
Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment.
Caterpillar products and components are manufactured in 22 countries around the globe. The company practices Six Sigma philosophy for quality.
Caterpillar sells its products through a global dealer network. Rental services are available at 1,400 outlets worldwide.
In 2015, the company reported sales of $47.0 billion, down from $55.18 billion the previous year, and net income of $2.1 billion.
Caterpillar is seeing declining sales due to weakening commodity and oil prices around the world. The company announced in January it will close five plants and cut 670 jobs.
Caterpillar worldwide, full-time employment was about 105,700 at the end of 2015, compared with about 114,200 at the end of 2014, a decrease of about 8,500 full-time employees. The flexible workforce decreased by about 3,500 for a total decrease in the global workforce of about 12,000. The decrease was primarily the result of restructuring programs and lower production volumes. Full-time employment at the end of 2015 includes approximately 2,100 employees who participated in the U.S. voluntary retirement enhancement program and left the company effective January 1, 2016.
History
1890. Benjamin Holt and Daniel Best experimented with various forms of steam tractors for use in farming. They did so separately, with separate companies.
1904. Holt's first steam track-type tractor.
1906. Holt's first gas track-type tractor.
1915. Holt "Caterpillar" track-type tractors are used by the Allies in World War I.
1925. The Holt Manufacturing Company and the C. L. Best Tractor Co. merge to form Caterpillar Tractor Co.
1986. The Caterpillar Tractor Co. changes its name to Caterpillar Inc. - a more accurate reflection of the enterprise's growing diversity.
Caterpillar made acquisitions of EMD, MWM and Bucyrus in 2010.
Benefits
The company offers the following benefits to employees in addition to incentive pay:
100% Matching on 401(k) contributions. Caterpillar offers a dollar for dollar match up to 6% of pay contributed to the 401(k) plan that allows you to save money on a pre-tax basis and lets you choose how to invest your savings in several different mutual funds.
Portable Pension Equity Plan. Retirement may still be many years away for you. Even so, you should keep in mind that our Portable Pension Equity Plan (effective January 1, 2003) offers you a rich benefit, providing you a safety net, in conjunction with your 401(k) to provide you with a secure retirement.
Paid Vacation and Personal Time. Everybody needs time off. Caterpillar provides you with paid time off for vacation, personal days, holidays, bereavement and jury duty. Paid time off policies vary at different locations.
Learning and Development. Caterpillar strives to improve the performance of Caterpillar employees, suppliers, dealers and customers. You have a variety of learning opportunities at Caterpillar ranging from hundreds of online e-learning titles to classroom courses that help you develop your skills. Caterpillar also offers a competitive reimbursement program for employees.
Comprehensive Medical, Dental, and Vision Coverage. We provide comprehensive, affordable medical coverage through a network of physicians, hospitals and other providers. Coverage at most facilities includes dental and vision care for you and your family.
Healthy Balance. We know that it's hard to balance your health needs with your other responsibilities. That's why this program gives you resources to identify lifestyle choices that impact your health, and suggests actions you can take to reduce health risks. The program also helps you make everyday health decisions through our toll-free phone service staffed by experienced registered nurses.
Life and Disability Insurance. No one likes to think about this stuff. But we've thought about it, and at most locations, we offer a plan that provides basic term life insurance equal to two times your annual salary. You'll have the option to purchase more coverage at group rates. If you are ever unable to work because of an injury or illness, you'll continue to receive your salary for up to six months. 50% of your salary is paid after six months for as long as you are unable to work until you're 65.
Updated January 29, 2016
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