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Caterpillar laying off workers due to weak market for mining

Posted by wlpo on January 8, 2015

PEORIA, Ill. (AP) – Know anyone who works at Caterpillar? The company has announced layoffs of about 200 full-time production employees at its East Peoria and Decatur plants.

A company spokeswoman says the layoffs are at plants that produce equipment for the mining industry. She says that industry continues to see weak market conditions, which means the layoffs will be for an indefinite period.

The layoffs are expected to take effect Jan. 19. Caterpillar is expected to offer affected workers support services.

Caterpillar reported third-quarter net income of $1.02 billion as of Sept. 30, compared with $951 million in the same quarter a year before.

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