Caterpillar layoffs underscore mining's weakness, FT says

theflyonthewall.com

Caterpillar's (CAT) recent announcement that it plans to cut about 2,000 jobs is yet another sign of how weakness in the global mining industry and low commodity prices are hurting heavy industry, says the Financial Times. Low natural gas prices which have curtailed coal mining and the industrial slowdown in China are cited by FT as two reasons for the mining slowdown which is impacting companies like Caterpillar and Joy Global (JOY).

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