Cooper to cut 2,200 jobs as second-quarter profits fall
Cooper Industries Ltd., Houston, reported a 38 percent drop in fourth-quarter profit and said it has more than doubled its work force cuts to 2,200 employees worldwide.
Net income was $111.1 million, down from $179.3 million, a year ago. The results include a pretax charge of $35.7 million, primarily related to job eliminations. Excluding the charges, it earned 84 cents per share.
Analysts, had predicted a pr
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