facebook
twitter
rss
account
search
search
 

Caterpilllar to lay off 460

April 6, 2013 at 11:21 AM   |   Comments

DECATUR, Ill., April 6 (UPI) -- Caterpillar Inc. said it will lay off 460 workers at a plant in Decatur, Ill., where it has already implemented temporary layoffs and cut workers' hours.

The plant manufactures equipment used in the mining industry. The U.S. heavy equipment manufacturer's global dealer sales have been in negative territory since late last year, the Chicago Tribune reported Saturday.

Caterpillar issued a statement saying the layoffs -- affecting 11 percent of the workforce at the plant and set to take effect within 60 days -- are intended to position the company for long-term success, the Tribune reported.

"While some cost reduction measures, such as temporary layoffs, shutdowns and shortened workweeks, have already been implemented, more permanent measures must be taken in the near-term," Caterpillar said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
IS oil smugglers will feel wrath, Kurdish leader says IS oil smugglers will feel wrath, Kurdish leader says
2
Gas ball in Ukraine's court, Kremlin says Gas ball in Ukraine's court, Kremlin says
3
Exxon says it's safe from Russian sanctions Exxon says it's safe from Russian sanctions
4
Navy orders more Block IV Tomahawk cruise missiles Navy orders more Block IV Tomahawk cruise missiles
5
First A-29 rolls off Florida assembly line for USAF program First A-29 rolls off Florida assembly line for USAF program
Trending News
x
Feedback