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From: peppe51	1/21/2009 8:28:21 AM
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5200...Eaton says to cut 5,200 jobs to cut costs Tuesday January 20, 9:01 pm ET NEW YORK (Reuters) - Diversified U.S. manufacturer Eaton Corp (NYSE:ETN - News) said on Tuesday it planned to cut 5,200 jobs in an effort to further slash costs in the face of a struggling economy. A spokeswoman at Eaton said the latest cuts, combined with 3,400 layoffs announced in the second half of 2008, would bring the total number of staff cuts to 10 percent of the company's total workforce. The Cleveland-based company is scheduled to release fourth-quarter earnings on January 26. "We anticipate there will be additional information at that time," said Spokeswoman Kelly Jasko in a telephone interview. In December, the Cleveland-based company slashed its profit forecast for the quarter and said its end markets could decline by about 7 percent in 2009. biz.yahoo.com

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