Canada’s Finning International Inc, the world’s biggest dealer of Caterpillar Inc equipment, posted a lower-than-expected quarterly profit and said it would cut more jobs.
The company, which cut 13 per cent of its global work force last year, said it would cut another 400-500 jobs by mid-2016.
Finning had about 14,500 employees as of Dec. 31, 2014.
Shares of the Vancouver-based company were down 7.4 per cent at $17.29 in early trade.
Finning in November shut 11 facilities in Western Canada, in addition to previously announced 16 closures, to cut costs.
Read more » The Globe And Mail
See more » http://www.theglobeandmail.com/report-on-business/finning-swings-to-loss-to-cut-400-500-more-jobs/article28794252/