Caterpillar may shed up to 250 jobs in North

Latest:One of the world's largest machinery companies is considering shedding up to 250 people in the North.

Update 4.30pm: One of the world's largest machinery companies is considering shedding up to 250 people in the North.

Caterpillar, the world's largest manufacturer of heavy construction equipment, said it had been been hit by a global downturn in mining and oil exploration which has reduced demand for its products.