Caterpillar dealer Finning cutting 500 Cdn jobs

Feb. 24, 2015 – Finning International, one of the world’s largest Caterpillar dealer, has announced it will cut 500 jobs from its Canadian operations due to “soft market conditions.”

Based in Vancouver, B.C., the company sells, rents and provides parts and service for equipment and engines to customers in various industries, including mining, construction, petroleum and forestry.

“In order to maintain profitability during soft market conditions, we are taking steps to align our cost base and invested capital to reduced demand, similar to the actions we took in South America a year ago,” said Scott Thomson, president and CEO Finning International. “As part of our efforts to reduce costs in Canada, we will reduce our workforce by about 500 employees — roughly 9 per cent of our Canadian workforce. While this is a difficult decision, it is a necessary step to adjust to expected business levels.”