Finning to cut up to 500 additional jobs in 2016
VANCOUVER — Canada’s largest Caterpillar heavy equipment dealer says it will cut 400 to 500 jobs from its global operations this year, on top of 1,900 that were announced last year in two separate rounds of downsizing.
Vancouver-based Finning International Inc. (TSX:FTT) — which also operates in South America and the United Kingdom — says about 200 of the latest cuts are in Canada and the rest will be spread across its international operations.
Finning is grappling with the downturn in the oil and gas and mining industries, which are major users of the heavy equipment sold and serviced by the company in Western Canada and abroad.
It announced in November that it would lay off 1,100 people, or eight per cent of its total workforce at the time, including 440 in Western Canada.