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Cat’s biggest dealer cutting 500 jobs

Finning International is cutting in Canada and the U.K. From Reuters U.K.

Finning said it had let go of about 265 employees in Canada and 260 in Britain. Prior to that, it employed over 12,800 people in six countries, according to the company’s website. It also said it is closing or merging 22 of its British rental depots.

As a result, it said one-time restructuring charges will show up in its fourth-quarter and first-quarter results.

“With the financial upheaval, commodity price declines and slow down in business activity our business, like many others, has been negatively impacted,” said Mike Waites, president and chief executive of Finning, in a statement.

The cuts haven’t gotten bloody yet, though I wouldn’t say that to the face of somebody who’s just been let go a week before Christmas.

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Tom Mangan posted at 11:49 pm December 17th, 2008 |

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