According to an announcement made by Caterpillar, their global headquarters will be moved in Chicago. The announcement came from the spokeswoman of the company, Rachel Potts, and she clarified that there is no exact location yet of their new headquarters.
She added that they are exploring possibilities that they could find in the Chicago and they are targeting a location that is close to a global transportation hub.
They will be leasing the new headquarters and will not be doing any construction. This is a move decided by the company so they can invest in other areas that they recognize will create sales growth for the company. It was 2012 when the company’s sales peaked and since then, it has declined by 40 per cent.
In a statement made by Jim Umpleby, the CEO of Caterpillar, the board of directors has been talking about the benefits of a new location that is not only strategic but also accessible. Beginning in 2012, around two-thirds of the sales and revenues of Caterpillar is coming from outside the country. The goal of their move to a location that is near a global transportation hub like Chicago is to make it accessible and easier for them to meet with international customers, employees as well as dealers.
Potts shared that Umpleby will be moving to the new headquarters along with other C–suite executives and they might bring along one or two of the current vice presidents before the year ends.
It is estimated that there will be around 300 workers needed for the new headquarters and this include staffs that will be assigned to core corporate departments such as HR, legal and finance. The announcement hinted that not everyone who is under the said departments will be moving to Chicago.
There are positions that will be moving coming from Peoria but they have not decided yet how many to be exact. Before the year ends, they are expecting to have 100 employees already working in the new headquarters. Moving will be done with the help of a reputable company. If you are planning to move, don’t forget to inquire about the moving company’s rate such as UAE international moving company quotes to ensure that it is within the budget.