Boyd CAT Rightsizing, Restructure, and Cost Reductions
JULY 12, 2016
Due to deterioration in our traditional markets in the eastern Kentucky area and coal industry with no signs of future improvement for some time, Boyd CAThas to make the difficult decision to right size our locations and support center affected by these conditions. This action includes a layoff of 87 employees, or approximately 7% of the current Boyd CAT employee workforce.
The company’s priorities during this time are respect for employees and their families, as well as serving our customers. Prior to this announcement, the Company has worked to reduce expenses and has made opportunities available for employees to move into positions in other areas of the company with relocation packages provided.
Boyd CATwas founded in Louisville, Kentucky in 1913, and is one of the oldest and largest Caterpillar dealers in the United States. The Company has 17 facilities in 16 cities across Kentucky and southern Indiana. In addition to CAT equipment parts, service, sales, and rental; Boyd CATis also the local dealer for Thomas Built Buses, Challenger, Massey Ferguson, Lexion, Sullair, Genie and other construction, industrial, mining, paving, forestry, and agricultural equipment.
As our company mission statement states; Boyd CATwill always strive to be the customer preferred provider for quality products, superior value-added support services, and innovative solutions in all markets we serve. Our business conduct will uphold our values while enhancing the success of our customers, employees, suppliers, and communities.
President & CEO
Boyd CAT Company