- Associated Press - Friday, June 3, 2016

SPENCER, Iowa (AP) - A company that makes hydraulic pumps and motors says it will lay off 70 workers in Spencer over the next year.

The Eaton Corporation says 23 employees will be laid off within the next couple of months and the remainder will be let go within the next year. The employees were notified Thursday. Eaton’s Spencer facility currently employs about 180 people who make pumps and motors for mobile and industrial use.

Officials say the cuts are a result of a full year of declining markets in 2015 for the company and the industry in general. They see the trend continuing this year.

The Dublin, Ireland-based company has about 97,000 employees worldwide and sells products in over 175 countries.

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