Peoria IL – Caterpillar's CEO said he will keep their headquarters in the state.
CEO Doug Oberhelman has criticized the state's political leaders and what he calls the uncompetitive business environment. Oberhelman announced Thursday that the company's headquarters will remain in Peoria.
However, this move will not stop many works who will be temporarily laid off in Decatur. More than one thousand Decatur CAT workers received lay off notices Friday in Decatur.
CAT said that 20 percent of the workforce will be temporarily laid off. Lay offs will take effect starting November 26th through the first of the year.