Eaton to lay off 1,100, close plant.(Brief Article)(Statistical Data Included)

From: Rubber & Plastics News | Date: January 28, 2002| Author: | Copyright information

CLEVELAND-Eaton Corp. will lay off 1,100 employees and shut down at least one facility in 2002, moves that reflect the diversified manufacturer's weakening end markets because of a down economy.

Chief Executive Alexander Cutler announced the layoffs along with the closing of Eaton's Glenrothes, Scotland, hydraulics plant and the possible shutdown of a truck transmission production facility in Shelbyville, Tenn., during a Jan. 22 conference call.

Eaton attributed the cuts and disappointing financial results-along with reduced earnings expectations for 2002-to lowered demand ...

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