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差不多占总员工的3.5个百分点。1 p6 ~) R0 K! j2 f9 Y, n6 ~3 e
& ~5 Z, A* y1 SFinning Canada has laid off 160 salaried staff in Alberta and B.C. as sales of Caterpillar equipment slows in the economic downturn.
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Every office and every staff level, from support staff to management, in both provinces were affected, human resources vice-president Miles Hunt said Thursday.- h/ b- {9 }2 F9 [; p& t
( h8 M4 A- t4 N/ M, cTwenty-nine people lost their jobs in Edmonton, where Finning Canada has its head office.
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"It's the toughest decision we have to make in our business life, and it's been a hard few days for us," Hunt said.
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: p- G* Y* t' V8 a9 [; v" sIt brings Finning Canada's workforce down to about 4,300.! @+ l. J9 e" V) d
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No hourly workers - who service and rebuild construction and mining equipment - are affected.
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8 U. I& X5 N( k& {- jIn fact, the company is still hiring mechanics and technicians, Hunt said.
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+ T! \* y- r9 q# |, j6 V"That's the paradoxical thing. Even though things are changing, Fort McMurray (Alta.) is still growing, and we need more people up there," he said.
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4 K' T3 {# U* a6 C8 o6 ["It's our customers who are going to get us through this, and that's the last place we want to cut."
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. Y5 V5 K* z) F7 n2 x4 e F$ Z2 jThe recent delays and cancellations of oilsands projects - a major income source for Finning - was not a factor in the layoffs, Hunt said.! E: }$ Q3 ^6 o" m S0 m( n1 d* U
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"We're still very busy in the oilsands."
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* G$ h$ m' G; F, f3 CHunt said Finning has been immune to recent downturns, but is now being affected by slowing sales in some areas.
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They will continue to monitor the situation, but "we can't say it's the end" of layoffs, he added.
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% |* P' u# Y4 o% P" j2 yThe employees, most of whom got the bad news Wednesday, will get severance packages and outplacement help, he said.% [8 t4 [: T1 X( c5 v( r
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Mike Waites, CEO of Vancouver-based parent company Finning International Inc., recently lowered the 2008 earnings guidance due to a slowdown in some of its businesses in Western Canada and the United Kingdom.4 E. d6 l* h& |+ S
- b. ]. G, I [- J1 {% lDemand for new equipment will likely soften and some purchases may be deferred, but that will result in an increase in its parts and service business - Finning's most profitable business - he said.
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Finning reported third-quarter net income of $64.8 million compared to $63.6 million for the same quarter last year. Revenues were a record $1.46 billion, compared to $1.33 billion a year before.
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Its order backlog has also grown to a new record of $2 billion, dominated by mining equipment, "and provides good revenue visibility for 2009 and into 2010," Waites said. |
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