Read More Caterpillar CEO: Economy not pushing Fed to hike The construction and mining equipment manufacturer said it lowered its guidance because of "broadly weaker business conditions" in its three largest segments: construction industries, energy and transportation, and resource industries. The largest sales and revenue decline has come from the company's oil- and gas-related business, Caterpillar said. Thursday's announced workforce reduction follows the company's total workforce reduction of more than 31,000 since mid-2012.