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Posted: January 26, 2009
Updated: March 9, 2009

Company layoffs could mean big blow to Sanford

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Caterpillar lays off workers in Clayton, Sanford

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Caterpillar lays off workers in Clayton, Sanford

Sanford, N.C. — Sanford could be hit hard by layoffs at two large companies that employ hundreds of people.

Caterpillar Inc., the world's largest maker of construction equipment, announced Monday it is cutting 20,000 jobs worldwide.That word came along with a report that fourth-quarter profits had fallen 32 percent.

The company has a work force of about 700 in Sanford, and it's unclear how many employees could be laid off from the plant.

Last month, Caterpillar laid off an undisclosed number of employees in what it called "temporary layoffs" that affected its Clayton plant.

Pharmaceutical giant Pfizer also announced it is buying Wyeth Industries and cutting 8,000 jobs.

Wyeth has operated in Sanford for 20 years. In November, it cut 124 jobs, a 10th of its work force.

Wyeth spokesman Doug Petkus said "no specific decisions have yet been made regarding job reductions or facilities" and that "from Wyeth's perspective, Sanford is an important site."

The plant in Sanford makes the pediatric vaccine Prevnar.

RELATED TOPICS: Clayton

Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Latest Comments
It's gets better... the companys that aren't laying you off know they have you over a barrel. My husband was refused time off for a funeral, then when he requested 2 days of his vacation to go, they refused his time off. He is working 15 hr days 6 days a week (and his employer got mad when he wouldn't come in on Sunday and spent the day emailing and calling him)- and he won't say anything to his employers because he can't afford to lose his job.
Click to view my profile OALA
January 27, 2009 11:11 a.m.
The CEOs are laughing all the way to the bank. I don't think we really have free trade anymore. I think it's called an Oligopoly these days... a small group of extremely wealthy company owners controls the market.

If you only heard the comments some of my friends who provide various "luxury services" have reported. The CEOs are convinced that the American people need to work harder so they won't be poor. They also say there's not enough money to spread around so we need to get used to being poor.

I guess if you're born into old money and get bad values reinforced in your ivy league business school... you would tend to think that.

I can't believe we put up with it. What will it take to prove that the power belongs to the people?
Justin T.
January 27, 2009 10:37 a.m.
Dr. Dataclerk - I am just going to sit back and wait for my Federal Bailout money to arrive. So far nothing has shown up in the mailbox.
whatelseisnew
January 27, 2009 10:18 a.m.
With no jobs, what are people that wants to work going to do. Lord help us all.
Dr. Dataclerk
January 27, 2009 9:45 a.m.
I feel for all those that are losing their jobs...
Click to view my profile shellbelle
January 27, 2009 8:50 a.m.
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