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Caterpillar To Lay Off 125 Workers In Lafayette
Updated August 6, 2013 2:24 PM | Filed under: Business
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(LAFAYETTE) - Caterpillar Inc. says it's laying off 125 workers at its Lafayette large engine plant because of weak product demand.

The Peoria, Ill.-based company that's the world's largest maker of construction and mining equipment says the indefinite layoffs are effective Aug. 26.

Caterpillar and has a Lafayette workforce of about 1,800.

The Journal & Courier reports company spokesman Jim Dugan says in a statement that demand for the plant's products has fallen in the past year.

Dugan says the company has already implemented some cost-cutting measures, including "temporary layoffs, vacation shutdowns, and a reduction in flexible workforce."

Caterpillar in July announced a 43 percent drop in earnings and cut its outlook for the rest of the year because of a slump in the global mining industry.



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