Finning to cut 8 per cent of workforce

VANCOUVER – The world’s largest Caterpillar heavy equipment dealer is announcing more locations in Western Canada will be closed and a total of 1,100 more jobs in several countries will be cut, representing eight per cent of its global workforce.

Vancouver-based Finning International (TSX:FTT) says new-equipment sales dropped by 27 per cent between its second quarter and its third quarter ended Sept. 30, sparking the need for further downsizing.

The latest workforce reduction will include 440 people in western Canada, 550 in Finning’s South American operations and a smaller number in Europe. where Finning has operations in the United Kingdom and Ireland.