Unfortunately, Caterpillar Inc. has initiated a new round of layoffs as families are preparing for the upcoming holiday.
An undisclosed number of employees received notices yesterday as part of cost saving measures on the part of the struggling company.
According to a company spokesman, those affected may be placed in other available positions, while others will receive severance packages and outplacement services in order to find work.
These days, manufacturing jobs in the U.S. can be transitory and, unfortunately, a job loss can lead to difficult financial problems for workers and their families.
Bankruptcy may be a strategy for those who run the risk of losing their home or vehicles because of a gap in employment or for other reasons such as a medical emergency in the family. People are sometimes caught in unexpected situations despite their best efforts.
If you are facing a financial hardship, it is important to gather information regarding your options, one of which may be bankruptcy protection. Contact Peoria Illinois bankruptcy lawyer Charles E. Covey if you have faced a loss of employment to discuss what bankruptcy protection can offer you and your family.
Attorney Covey will give you straight answers regarding the pros and cons of Chapter 7 and Chapter 13 bankruptcy, provide you information regarding eligibility, and help you make an informed decision. Call today for a free initial consultation or contact us through this website. We are here to help.