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Caterpillar Inc. (CAT) plans to lay off more than 460 workers at a central Illinois plant that produces big mining trucks.
The layoffs will shrink the work force at the Decatur plant by about 11%. The company said the reduction is needed to bring production at the plant in line with lower demand for mining equipment caused by falling prices for mined commodities and decisions by mining companies to shelve expansion projects.
Read more: Caterpillar Laying Off 460 Workers at Illinois Plant | Fox Business
The layoffs will shrink the work force at the Decatur plant by about 11%. The company said the reduction is needed to bring production at the plant in line with lower demand for mining equipment caused by falling prices for mined commodities and decisions by mining companies to shelve expansion projects.
Read more: Caterpillar Laying Off 460 Workers at Illinois Plant | Fox Business
