Thread regarding Eaton Corp. layoffs

Eaton Corp., recipient of state tax credits, cuts 83 jobs in Pewaukee

A large international company that has earned state tax credits for its investment in a Menomonee Falls plant is continuing to cut jobs at other factories in southeastern Wisconsin.

Eaton Corp. told state officials Monday that it will eliminate 83 jobs in Pewaukee as it discontinues manufacturing molded rubber products there.

The layoffs are among 256 job cuts at Wisconsin plants Eaton has announced since 2013.

Meanwhile, the company has earned $369,000 in state tax credits for investment at its Menomonee Falls plant, including creation of a far smaller number of new jobs there.

The latest job cuts are part of a plan Eaton announced in 2013 to shift production of molded rubber products from Pewaukee to Mexico.

In early 2013, Eaton said it would eliminate 163 jobs in Pewaukee as it relocated manufacturing of the components, used in the electrical industry, to Querétaro, Mexico. The cuts cited in the notice received by state officials Monday are part of that plan, Eaton spokesman Mark Horner said in an email.

In April, Eaton filed notice of its plans to discontinue manufacturing of printed circuit boards at its Watertown plant, resulting in the loss of 93 jobs. Work on that product line is to be phased out through Dec. 31, the company told state officials.

That work is moving to Tijuana, Mexico, Madison television station WKOW reported. According to the station, Gov. Scott Walker said at the time that he had instructed the Wisconsin Economic Development Corp. to look into its earlier deal with Eaton.

The November 2011 WEDC agreement with Eaton called for the company to receive up to $1 million in tax credits in connection with investment and job creation at its Menomonee Falls factory.

In order to receive the credits, Eaton was to invest $13.5 million in the plant, retain 154 jobs there and create another 24.

The company has met those goals, and to date has earned $369,307 in tax credits, a WEDC database shows.

In February 2014, Eaton announced that it would invest $54 million in its Waukesha-based Cooper Power Systems business and create up to 200 jobs there.

Eaton was based in suburban Cleveland, Ohio, until its purchase of Cooper Industries in late 2012. After the acquisition, Eaton moved its official headquarters to Dublin, Ireland.

In 2014, Eaton netted $1.8 billion on revenue of $22.6 billion. The company employs 102,000 people worldwide, according to its website.

by
| 2575 views | | no replies yet
Post ID: @OP+DZyJGPH

There are no replies in this thread yet. Be the first to post a reply below:

Post a reply

: