Caterpillar will lay off workers due to mining sector slump

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. "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.

Caterpillar will lay off workers due to mining sector slump source: http://finance.yahoo.com/news/caterpillar-lay-off-workers-due-195137232.html