LATEST NEWS: Caterpillar lays off 70 more workers

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A TRUCK production plant which axed 300 jobs last month has finished another 70 workers.

Caterpillar’s Peterlee site finished the temporary employees after a fall in the demand for its trucks.

The 70 job losses comes after 300 agency staff lost their jobs in September.

Bosses at the Peterlee plant blamed the recession for the move, as well as the ongoing eurozone financial crisis and uncertainty over the U.S. economy.

A spokesman for the company said: “Economic growth and demand from customers around the world has not reached expected levels.

“After a good start to 2012, projected production volumes for our products are lower than we previously expected.

“We regret the need to take this action but we need to align our workforce with production volumes and continue to position our business to be successful in the long-term.”