I feel we should get this site to just automatically post something with this title once a month. They have already started to implement a hiring freeze. This time it includes both billable roles and replacements. That means RIFs and “role consolidations” are next. They are also considering their annual late 2nd quarter furlough as well.
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My 'educated' bet is on quite a few more NA site closures before the year is out company wide. Some SPS businesses are currently lying belly up so I am interested to see how they put those down.
Essentially VK has been tasked with the cull.
I do hope many of you are working on your exit plans. On the positive side there is surprisingly still a job market out there.... for now.
Sent my first resumes out this week and already have interviews, good luck folks.
We've got all of the Q1 results townhalls coming up. That may be when we really get an idea of what's coming. The DA townhall was an absolute joke. Wallstreet seems happy though.
It started. We have to fill-in special request for travel. Not in classic concur system, but in paralel in another request form. If you read between lines, it basically is travel freeze because it needs a lot of justification and approval by some strange guy, not your manager.
Next will be procurement freeze I guess. And then furloughs are waiting behind the corner.
In my opinion, (just in case) As an ex employee in the UK, still in contact with ex colleagues, I am aware of ongoing RIF (second one of this calendar year) with 8 to 10 people going each time.
In my opinion SPS has been running on "inertia", however it is shedding mass internally and externally therefore the slowdown has increased exponentially. Grab some popcorn, latest communiques mention 2nd quarter results not meeting expectation's, cut all unnecessary expenditures and travels immediately. We all know what happens from here...
PS: From my understanding it is difficult to remove posts that are stated as an "opinion"
I don't know how obvious it can be that SPS is about to be decimated. Since January there have been rumors of huge reduction coming at the end of the summer.
@4vxt Town hall was great. The dogs danced around and the ponies pranced around.
It was quite the show.
Not much, same old same old just that DA did a rare thing and openly stated SPS was in a very bad way ( no sh1t). Townhalls never give up too much but in this one something was definatley off other than DA's departure, quoting Harrison Ford I have a bad feeling about this.
What happened during town hall? I missed it
2lad…
You’re an idddiot if you prefer a pay cut for time off. There - I’ll be the snarky one.
I would not mind 1 week off without pay every quarter. That plus my 6 weeks of accrued vacation. 10 weeks a year plus holiday shutdown. Sounds great. But that's just how I feel and reflects my personal situation. I'm hourly and work in a metal shop. If need be I can more than make up for the loss in pay by working a little bit of overtime. But I'm not going to get snarky with someone who disagrees or is in a different situation.
Very lean years ahead, very bleak times.
If the business can afford to let you "enjoy" weeks off it can afford to let you take months. Go ahead and make it permanent .. turns out we dont need you at all.
The best business advice I can give Honeywell is sell off SPS and its assets any which way they can. Value in that business is dropping off the cliff and with the current crop of leadership there is no chance of turnaround.
Be it design, engineering, marketing, sourcing or sales the current leaders are the worst I have not only seen in Honeywell but at any corporation I have worked for.
They should not be in those positions which says everything about SPS and Honeywell leadership in general.
@2zhq
Yes and the 2% cut is just a tiny bit less the raises many of us received for this year. Add to they the tiny raise last, the revoked raise the year before and the tiny raise the year before that. Meanwhile DA's compensation has increased around 12% / year over year. Yeah, that sound fair to me!
Hey, 2zhq, what a flex! You're such an example, a real beauty! Also, you're essentially shaming people for protecting their financial stability which makes you lower than ____. Bruh, now what would balance this new found market adjuatments is if employees could also pull an extra week of paid vacation regardless of how the company was doing. See how that upsets the apple cart? Go calculate that and get back to us with....nevermind, we dgaf about your life of luxury with the execs.
Wow a unpaid week off = a 2% pay cut. If that small amount is a hardship to you, you should look at ways to cut your expenses or find a better paying job. My wife and i always enjoyed an extra week or several off as we were able to typically save the 8% for stock match and an additional 5 to 10% most years. After our house was paid for that saving was increased and additional $15 to $20K per year. Good Luck.
DA did say that SPS is in dire situation that needs immediate steps taken to rectify. When such things are mention, it inevitably would mean to ‘amputate’ that limb off or in Honeywell terms - spin off
Removal of the older worker is a primary goal, in pursuit of a cheaper and more "coachable" workforce. Moving offshore is the real long term objective.
Vacation is not an option to cover furlough. Honeywell along with ever other tech and industrial in legacy business will be entering a long and permanent staffing reduction for knowledge workers. Software engineers , he engineers, accounting, payroll etc will shrink by 50 to 80 percent over the next five years. Young workers will be hardest hit as they lack any retirement.
Not sure why some posted that they need or look forward to the time off during a furlough. For me a furlough has a devastating effect on my monthly income (i.e. my mortgage payment). If you need time off, then dip into that awesome “unlimited” vacation (end sarcasm). These furloughs hurt most of us…
I could use a furlough but I’ve always been exempt in the past. I am overworked and stressed as heck and there is no end in sight. We don’t have enough resources left to execute.
I’ve said a million times that JW is a cancer. He should have been walked out after destroying SPS. Instead he and his SPS team of failures migrated all over the company and are spreading the gangrene everywhere. DA will ride off with his millions, laughing. Commercial excellence will die next, sales will continue to spiral. Everything he is allowed to touch will shrivel at the root and die. Imagine a corporate Pac-Man with his face on it nom nom nom’ing profit and revenue.
@vqo I think hourly is non-exempt. But other than that, yeah, pretty much spot on.
I like paid vacation better but a week off is a week off.
@ase
Like said below A&B teams just means that half are furloughed one week and the other half are furloughed the next. They don't want the plant shut down.
No one is exempt based on their hire date or seniority.
No, you can't use vacation or sick time or any other time charge.
You can't log in to your company computer or use your company phone or check your company email.
You cannot be on the premises for any reason.
You can't contact or be contacted by an employee who is not furloughed when you are or who is furloughed when you're not.
There will be a training module outlining the rules and then another one when you return as an affidavit that you complied.
If you are exempt (hourly) expect that your paycheck will be wrong especially if you worked overtime the week before or after your furlough.
Check with your state labor department. You probably qualify for unemployment for that week.
Done this 6 or 8 times. It's an easy week off. Do something you enjoy for the week.
Or better yet, do some job searches.
If a business can not prove that a furlough is critical to it's survival it should be illegal, Honeywell's yearly abuse of this is abhorrent.
I mean furlough followed by dividend increase, they are laughing/spitting in your face.
The idea behind a Honeywell furlough is to not pay you for a week. Which of course reduces your yearly compensation. The executives are not affected. They still get their bonuses and stock options. The A and B teams are typically defined by a supervisor and the A team is off for a week and then the B team is off for a week. It is expected that the teams cover for each other. It never works that way though. Returning from a furlough is always a sh1tshow.
Yes, my engines manager suggested that a third quarter furlough is coming. Said it was going to be a "A" team and "B" team furlough. I hired on in January 2021, so, not sure what the whole "A" team and "B" team means, or how they determine who ? A co worker hired on roughly the same time as myself, thought those under 5 years are exempt, not sure if that is correct? Can we just take vacation time for any furlough, as an option? Thanks.