Mining equipment giant Finning reports a $309 million loss and warns of more layoffs
Revenues declined 26% in Canada, led by a 46% drop in new equipment sales. The company was awarded a contract to supply CRNL with 12 used 797F Caterpillar heavy haulers late last year. Finning has already cut its global workforce by 13% in 2015 and expects to destaff another 400 to 500 employees in 2016. The Vancouver-based company closed 40 facilities in Canada in 2015.