Mixed news out of Caterpillar. While the company opened a new plant Thursday in Athens, Georgia which will employ over 1000 workers, the company also announced layoffs at its Griffin, Georgia plant. The company said it continues to take actions to reduce costs and bring production into line with demand, in light of its third quarter results. The employee notifications are effective in December but the company is not breaking out specific location totals or employment details. The company further said that due to the softening of the mining business, engine demand has been affected and the Griffin plant supplies engines that power the mining equipment. The company said while it realizes the layoffs are difficult for employees and their families, the company must take steps to position itself for long term success.
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