Caterpillar laying off 200 full-time US production staff
Caterpillar has announced the layoff of around 200 full-time production employees at its East Peoria and Decatur facilities in the United States.
In addition, the heavy construction equipment manufacturing giant will also end the assignments of 40 agency employees.
A Caty spokeswoman said the layoffs are taking place at plants that produce equipment for the mining industry. She said that the industry continues to witness weak market conditions, which means the layoffs will be for an indefinite period.
The spokeswoman added that the layoffs are expected to take effect on 19 January 2015, adding the company will offer affected workers support services.
Peoria, Illinois-based Caterpillar reported Q3 2014 net income of US$1.02 billion, or $1.63 per share, in the three months ending 30 September 2014, compared with $951 million, or $1.45 per share, in the same quarter a year ago.