Caterpillar announces layoffs at East Peoria, Decatur plants

PEORIA, Ill. (AP) - Caterpillar Inc. has announced the layoff of about 200 full-time production employees at its East Peoria and Decatur facilities.

In addition, the manufacturer of heavy equipment will also end the assignments of 40 agency employees.

Spokeswoman Barbara Cox said Wednesday the layoffs are taking place at plants that produce equipment for the mining industry. She says that industry continues to witness weak market conditions, which means the layoffs will be for an indefinite period.

Cox says the layoffs are expected to take effect Jan. 19, adding the company will offer affected workers support services.

Peoria, Illinois-based Caterpillar reported third-quarter net income of $1.02 billion, or $1.63 per share, in the three months ending Sept. 30, compared with $951 million, or $1.45 per share, in the same quarter a year ago.