Eaton cutbacks include 60 at Lincoln plant

[January 24, 2009]  Industrial parts maker Eaton Corp. is slashing another 5,200 jobs, including 60 at the Lincoln plant. The Cleveland-based company began notifying workers Tuesday.

The recent cuts come on top of 3,400 layoffs Eaton announced in December, which also were spread around its operations worldwide.

"We are reducing our global staffing level by about 5,200," said Eaton spokeswoman Kelly Jasko. “This is a global impact, and the reason for it is to further align our cost structures with the weakening markets that we compete in."

Eaton is set to release its quarterly and full-year financial results Monday.

Eaton makes hydraulic and other power management equipment and systems for a variety of markets, ranging from automotive to aerospace, all of which have been hit to varying degrees by the economic downturn. In all, Eaton employs about 80,000 people around the world. The company has 225 manufacturing facilities worldwide and sells products in more than 150 countries.

[Associated Press; Eaton Corp.; LDN staff]