Jan 9, 2012
On New Year’s Day, Caterpillar Co. locked out 485 Canadian workers at a locomotive assembly plant in London, Ontario. Their CAW contract ended, and now Caterpillar demands that all the workers drop down to two tier wages — $16.50, down from $35.00!
Cat points to its U.S. plants that have only half the labor cost of the Canada plant, due to previous UAW concessions! Cat is using cheap U.S. labor to threaten the Canadian workers.
Cat is riding high with record corporate profits. But that doesn’t satisfy its greed. This is nothing but international whipsawing — taking down first one, then the other, in the race to the bottom.