Overview
- About 540 full-time workers are sharing $240 million, averaging roughly $443,000 each, with larger awards for long-tenured staff.
- Payments began in June and are scheduled annually over five years, with most awards conditioned on continued employment.
- Eaton completed the acquisition earlier this year and stated the agreement honors Fibrebond’s commitments to employees and the community.
- The windfall, framed as recognition of loyalty rather than ownership, went to employees who held no equity in the company.
- A $150 million pivot into modular power enclosures for data centers drove sales up nearly 400% in five years, helping attract the buyer and enabling the payouts.