Caterpillar has been no stranger to the hardships caused by the economic crisis. In fact you might say the recession and Caterpillar are rather well acquainted.

According to the Financial Times, “In the first three months of this year, the company reported its first quarterly loss in 17 years. It has shed 26,000 jobs around the world in recent months, slashed executive pay by up to 50 per cent and cut its profit outlook in half.