Eaton Puts Focus on Cost Control as Economy Slows

Citing slow growth in the economy and flat bookings in a number of its business lines, Eaton has launched a $145 million restructuring program designed to lower operating costs in the global power management company. For the second quarter, Eaton (IW 1000/210) announced earnings of $543 million, and earnings per share of $1.16, up 5% compared to the second quarter of 2014. However, sales for the second quarter dipped to $5.4 billion, 7% lower than the same period last year. read more