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Caterpillar's 22,000 Job Cuts Will Strain Illinois Localities: Moody's

CHICAGO - Peoria, Ill.-based Caterpillar Inc.'s recent decision to trim 20% of its global workforce of 110,000 will put added strain and pressure on the budgets and credits of its hometown city and other nearby governmental units, Moody's Investors Service writes in a new commentary.

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