Caterpillar is excited to announce we are joining OneTen, a new coalition of 37 private U.S. employers who have committed to train, hire and retain one million Black Americans over the next 10 years into family-sustaining jobs with opportunities for advancement.
As a founding member, Caterpillar is making an annual financial commitment of $1.5 million and a yearly hiring commitment of at least 200 Black American employees.
Education and training that lead to gainful employment are the most important equalizers in our society. Today, Black Americans' unemployment rate is higher than that of any other race or ethnic group, and the economic gap for Black Americans is large and growing. We can do more to build skills and create opportunities to help close the gap and allow Black Americans to more fully contribute their ambitions, skills and talents to grow our nation's economy. By promoting equality and enhancing opportunities for Black individuals to enter and advance in the workplace, we can create more equitable environments that will drive better business outcomes and support the advancement of all diverse talent.
"We are proud to join forces with other major employers to lead in this effort," said Caterpillar Chairman and CEO Jim Umpleby. "It is a natural extension of our workforce development journey and enhances our efforts to build the next generation of doers. Our involvement in OneTen is particularly timely as we conclude our 95th anniversary year, ready to launch into the next century with the team that will help our customers build a better world."
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