DEERFIELD, Ill. (WMBD) — The spread of COVID-19 is continuing to impact Caterpillar Inc. Tuesday the company announced they are stopping pay increases and pay incentives.
Company spokeswoman Kate Kenny said management, senior executives and salaried employees will not receive base salary increases in 2020. Kenny also said employees under the Short-Term Incentive Plan and the Annual Incentive Plan will not receive a payout this year.
These decisions are difficult and were not made lightly, but we must act with a sense of urgency to respond to this extremely challenging situation created by the pandemic.”Spokeswoman Kate Kenny
The company earlier this week laid off employees at Building KK in East Peoria.