Caterpillar says it will not give annual salary increases this year

Caterpillar says it will not give annual salary increases this year

Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.

FILE PHOTO: FILE PHOTO: Caterpillar logo
FILE PHOTO: FILE PHOTO: Caterpillar logo is seen./File Photo

CHICAGO: Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.

The company also said it will not pay out bonuses to eligible employees next year.

(Reporting by Rajesh Kumar Singh; Editing by Chris Reese)

Source: Reuters

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