Caterpillar is proposing to close three plants.

The Peoria, Ill.-based farm equipment manufacturer said the plants targeted for closure are its 2.4-million-square-foot Davenport, Iowa, facility; its 300,000-square-foot Dallas, Ore., facility and its 1.1-million-square-foot plant in Glasgow, Scotland. The moves are to cut costs and improve efficiency. The proposal would affect about 2,800 jobs and reduce the firm’s fourth-quarter earnings by $109 million, but the company said it still expected to report a profit for the fiscal year. The company employs 1,353 workers at the Iowa plant, 331 at the Oregon facility and 1,220 in Scotland. A final decision on whether to close the plants is expected in six months.