Eaton Corp., Cleveland, plans to cut 10 percent of its corporate-level staff.
About 90 positions in the Greater Cleveland area will be eliminated.
In a letter sent to employees, Eaton Chairman and CEO Alexander Cutler called the workforce reduction "regrettable and difficult," but explained that the changes are necessary to size expense levels with the reduced activity levels in Eaton's end markets. He said, "While we cannot control the economy, we must -- and will -- actively lead Eaton through this period of economic weakness.”
Earlier this year Eaton announced restructuring actions of $110 million to lower structural costs in Eaton's operating units and resize those businesses to operate effectively and efficiently at lower levels of activity. These actions include the elimination of jobs, closure of facilities, the divestment of several businesses, and strict spending controls.
About 90 positions in the Greater Cleveland area will be eliminated.
In a letter sent to employees, Eaton Chairman and CEO Alexander Cutler called the workforce reduction "regrettable and difficult," but explained that the changes are necessary to size expense levels with the reduced activity levels in Eaton's end markets. He said, "While we cannot control the economy, we must -- and will -- actively lead Eaton through this period of economic weakness.”
Earlier this year Eaton announced restructuring actions of $110 million to lower structural costs in Eaton's operating units and resize those businesses to operate effectively and efficiently at lower levels of activity. These actions include the elimination of jobs, closure of facilities, the divestment of several businesses, and strict spending controls.
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