Caterpillar Inc (CAT.N), the world’s largest maker of construction equipment, plans to cut 1,400 jobs at a plant near Charleroi in Belgium due to high costs and the weak European economy, the group’s Belgian unit said on Thursday.
The cuts will come at the Gosselies site just outside of Charleroi, one of the largest Caterpillar facilities in Europe, where the group makes hydraulic excavators, loading vehicles and engine parts. The site employs 3,700 people.
“Though they are painful, these measures are indispensable to allow us to be competitive and give a chance of survival to our factory,” said Nicolas Polutnik, CEO of Caterpillar Belgium.
The job cuts at Caterpillar are the latest in a string of large-scale layoffs in Belgium.
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via Caterpillar plans to cut 1,400 jobs in Belgium | Reuters.
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