Caterpillar Inc. (NYSE: CAT) is planning to lay off approximately 125 workers at its Lafayette plant. The company says the move is designed to bring production in line with demand. CAT says the reductions will take effect later this month. August 6, 2013

Caterpillar Statement

Caterpillar’s Lafayette facility announced to its workforce today that it will take further actions to bring production in line with demand. Compared to last year, we have witnessed weaker demand for products built at our Lafayette facility. While some cost reduction measures such as temporary layoffs, vacation shutdowns and reduction in flexible workforce have already been implemented, further measures must be taken in the near-term. The Lafayette plant is placing approximately 125 employees in production roles on Indefinite Layoff, effective August 26, 2013. We know this is difficult for our employees and their families, and the company will do what it can to ensure impacted employees have outplacement support during this time.

Source: Caterpillar Inc.

Story Continues Below