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Machinery, materials makers cut jobs amid slowdown

Companies tied to the construction industry in China are cutting jobs as business stalls.

TOKYO -- Japanese machinery and materials companies are broadly scaling back operations in China, trimming staff and production as the slowing economy there causes past excess to weigh on earnings.

     Construction equipment maker Komatsu said it has cut around 10% of its staff in China, or around 500 workers, since the beginning of fiscal 2015, soliciting volunteers for early retirement and declining to extend contracts for temporary workers. The same number was cut in fiscal 2013 and fiscal 2014 combined.

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