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Emerson to Add Up to 7,000 Workers This Year, CEO Says

Feb. 1 (Bloomberg) -- Emerson Electric Co., the maker of data-center equipment and thermostats, plans to boost employment this year by about 7,000 workers, or approximately 5 percent.

Chief Executive Officer David Farr said the company ended 2010 with fewer than 130,000 workers and will “trend toward” as many as 137,000 as the year progresses.

“We are going to be adding people around the world in all locations,” Farr said today on a conference call with investors.

Emerson projected sales will increase as much as 17 percent to $24.5 billion as economies worldwide recover. Fiscal first-quarter net income, for the three months through Dec. 31, climbed 13 percent as revenue gained across all units, the St. Louis-based company said in a statement today. Emerson’s fiscal 2010 ended Sept. 30.

Emerson rose 88 cents, or 1.5 percent, to $59.76 at 4:15 p.m. in New York Stock Exchange composite trading. The shares have added 41 percent in the past year, and today’s closing price was the highest since at least 1980, the first year for which Bloomberg tracked data.

To contact the reporter on this story: Will Daley in New York at wdaley2@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

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