More "transitory" issues at caterpillar: Caterpillar plans to lay off 475 more employees due to declining sales

http://www.reuters.com/article/2015/08/27/us-caterpillar-layoffs-idUSKCN0QW29520150827?feedType=RSS&feedName=businessNews

Caterpillar plans to cut 475 more jobs in an effort to cut costs amid declining revenues from global mining and construction activities, Reuters reports, citing a statement from company spokeswoman Lisa Miller. The move comes after the company announced 270 job cuts for Illinois employees, the report says.