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差不多占总员工的3.5个百分点。, B* V$ X8 Z+ s" z9 K' E, m
) V# a7 }+ \# w; ~+ D; TFinning 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.
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3 ]$ `& u5 v7 B! o, ^) yTwenty-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.$ f5 a7 i# e6 L
' [* \; s, B! c+ FIt brings Finning Canada's workforce down to about 4,300. ]- [8 i7 J6 f. }; A: Y2 \
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No hourly workers - who service and rebuild construction and mining equipment - are affected.
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* k! N0 f3 a% j xIn fact, the company is still hiring mechanics and technicians, Hunt said.
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"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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"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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The recent delays and cancellations of oilsands projects - a major income source for Finning - was not a factor in the layoffs, Hunt said./ ]$ M8 N6 D( p( m6 I' \
; i% p& q9 ^0 ] Z"We're still very busy in the oilsands."
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Hunt said Finning has been immune to recent downturns, but is now being affected by slowing sales in some areas.
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. M( t- U) T1 x5 c. ~They will continue to monitor the situation, but "we can't say it's the end" of layoffs, he added.
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f, x1 T& A& jThe employees, most of whom got the bad news Wednesday, will get severance packages and outplacement help, he said.
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0 o6 ~' l& g, G' C' vMike 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., K; S6 ^8 X0 ^+ R1 z# ^
3 W& ^8 X* Q P( d, n. j h, cDemand 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.) e/ u' B# c& {5 U( \* F. [
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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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