Eaton Cuts 5,200 Jobs; 10% Globally

Industrial parts and systems maker Eaton is cutting an additional 5,200 jobs because of a drop in demand for its products amid the global economic meltdown.

The move follows 3,400 job cuts last year.

All told, Eaton has cut back its employment level globally by about 10%, down from a high of about 80,000.

The new cuts will include about 60 from the company’s home base in Cleveland.

CEO Alexander Cutler warned in December, as the company lowered its profit forecast, that it was seeing less demand in its end markets, most notably in its automotive, truck and hydraulics segments.

Eaton manufactures electrical systems, hydraulic parts & systems and truck & automotive powertrain systems.