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Caterpillar to lay off 125 in Lafayette

LAFAYETTE, Ind. – Caterpillar Inc. says it is 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 said the indefinite layoffs are effective Aug. 26.

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

The Journal & Courier reports (http://on.jconline.com/15EwuEU) that company spokesman Jim Dugan said in a statement that demand for the plant’s products has fallen in the past year.

Dugan said 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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