Caterpillar cites weak market conditions as the reason the company is paying off 200 workers in Central Illinois. (Photo courtesy Facebook/Caterpillar)
By Metro News Service
PEORIA – About 200 Caterpillar workers in central Illinois are about to lose their jobs.
Caterpillar executives say workers from their Decatur and East Peoria plants will be laid off on Jan. 19. They say layoffs are a result of weak market conditions in the mining industry. The company will offer support services to workers who are laid off. There's no word on how long the layoffs will last.
U.S. Rep. Aaron Schock, R-Peoria, issued a statement blaming the layoffs on the Obama administration, saying the jobs are the quote "latest casualty in the Obama administration's war on coal."
The Peoria Republican says coal miners in the 18th District have already lost their jobs due to the regulatory hostility of the Obama administration. Now, he said the workers who support that sector have been affected.
The Associated Press reported the Peoria-based company 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.