Manufacturers Cutting Workers in Lafayette
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowTwo manufacturing operations in Lafayette are cutting a total of about 300 workers. The Journal & Courier reports Caterpillar Inc. (NYSE: CAT) and Oerlikon Fairfield are blaming decreased demand for the moves.
Statement From Caterpillar Inc.
Caterpillar Inc. notified employees April 1 at its Lafayette, Indiana, Engine Center that it will take action to align production with demand. In addition to its full-time workforce, Caterpillar utilizes a flexible workforce at many of its facilities to be able to react quickly to business conditions. The flexible workforce fluctuates with variations in demand. The company will reduce employment at the Lafayette facility by approximately 50 full-time production employees and approximately 200 agency workers between April and June. Production volumes at the facility are declining due to a decrease in orders for engines that support the oil and gas industry. Caterpillar knows this decision is difficult for employees and agency workers and their families, but these actions are necessary to position the company for long-term success.
Source: Caterpillar Inc.
Caterpillar is letting about 250 employees go. Oerlikon Fairfield, which makes engineered gear and drive products, will lay off 35 workers.
The paper reports the Caterpillar Cuts include 50 full-time employees and 200 employment agency workers. The company manufactures diesel engines for industrial, marine and other applications.
Source: Journal & Courier