Caterpillar (CAT -0.5%) will layoff 11% of its workforce at a Decatur, Illinois factory. The...

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

Caterpillar (CAT -0.5%) will layoff 11% of its workforce at a Decatur, Illinois factory. The company said the move to eliminate 460 jobs is necessary "to bring production in line" with softening demand for mining equipment.