DECATUR, Ill. -- Caterpillar's Decatur facility announced Friday that they are laying off more than 460 employees.
Caterpillar says that the layoffs are due to the mining industry being weaker than it was at this time last year.
Cat also says that they have tried other cost reduction measures such as temporary layoffs, shutdowns and shortened work weeks. However, the company felt that more permanent measures were necessary to cut costs.
The layoffs will take effect over the next 60 days.