US giant Caterpillar to axe 700 jobs in Northern Ireland
US manufacturing giant Caterpillar has announced that it will cut 700 jobs across its Northern Irish operations.
It is understood that the majority of the redundancies will affect workers at its plant in Larne in Country Antrim.
The losses will come from plant workers and logistics staff at the Larne factory, as well as management and administrative workers situated elsewhere.
The decision will leave the firm will 900 staff in Northern Ireland. The company also has two plants in Belfast.
Caterpillar said that the cuts, which will be carried out over the next 18 months, were neither related to Brexit nor to the coronavirus pandemic.
Joe Creed, vice president of its electric power division, said: “We recognise that what we are considering is difficult for our employees, their families and the community.
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“We do not take these contemplations lightly; however, we must plan for future business needs to be competitive.”
Union Unite said that the cuts were a “scandalous” profit grab at the expense of its staff.
“This announcement comes as devastating news to the Caterpillar workforce”, said regional office George Brash.
“In the midst of the current downturn, the news comes as a severe blow to Northern Ireland manufacturing and the wider economy – most especially that in the Larne area.
“This is a scandalous decision geared only to increase further the company’s corporate profits.”
Caterpillar is one of the world’s largest manufacturers of industrial machinery.