Angry workers hold Caterpillar executives hostage in France

PARIS, France (CNN) - Hundreds of French workers, angry about proposed layoffs at a Caterpillar office, were holding executives of the company hostage Tuesday, a spokesman for the workers said.

It is at least the third time this month that French workers threatened with cutbacks have blockaded managers in their offices to demand negotiations. Executives were released unharmed in both previous situations.

The latest incident started Tuesday morning at the office of the construction equipment company in the southeastern city of Grenoble.

The workers were angry that Caterpillar had proposed cutting more than 700 jobs and would not negotiate with the crestfallen workers, said Nicolas Benoit, a spokesman for the workers' union.