Caterpillar will lay off workers due to mining sector slump

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CHICAGO (Reuters) Caterpillar, Inc. (CAT.N) will lay off another 50 workers at its East Peoria, Illinois campus on Monday because of a downturn in demand for mining equipment, the company said.

The latest action brings to 270 the number of workers Caterpillar has said it will lay off this year at its East Peoria campus. The company employs about 3,900 workers at the site, which is its main manufacturing hub. Last week, the company said it would idle 120 employees from the location, adding to 100 layoffs announced in January 2015.

“Similar to recently announced indefinite layoffs on the East Peoria campus, these impacted employees also manufacture products used in mining and construction industries, which continue to witness weak market conditions,” Lisa Miller, company spokesperson said in a written statement.

The layoffs affect workers represented by the United Auto Workers and are expected to take effect on June 29, the company said.

Caterpillar s CEO Doug Oberhelman said in the first quarter earnings released late April the company was expecting “to face headwinds and uncertainty in 2015.”

2015-06-23

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