NEW YORK U.S. mining equipment manufacturer Caterpillar Inc. has cut another 115 jobs at its South Milwaukee, Wis., production facility as part of its cost-cutting strategy for the second half of the year.
The Peoria, Ill.-based company has been forced to cut jobs at South Milwaukee and Oak Creek, Wis., due to a slowdown in demand from the mining sector. The company laid off 260 workers at South Milwaukee in June (amm.com, June 24).
"We stated in our second quarter financial results, released in July, that the company would be taking action to reduce costs in the second half of the year. The employee notifications in Oak Creek/South Milwaukee are included in those actions," a Caterpillar spokeswoman said.
With a reduction in dealer inventories and a decline in mining, 2013 is turning out to be a tough year for Caterpillar.
During the first half of the year the company faced temporary factory shutdowns, rolling layoffs, a reduction in its flexible workforce and a reduction in discretionary and program costs.
Caterpillar said it will continue to take additional cost reduction measures in the second half of 2013.
A version of this article was first published in AMM sister publication Steel First.