Seems that the RIF was focused mostly on Band 4 individuals. Heard some AME folks, the last of the band 4s were let go even though multiple band 3s in the group volunteered. They would not take the band 3s. Obviously all about money. Heard one of those band 4 had over 40 years. I cannot believe what has happened to our company
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I left my manager. I may mail him a training manual called "Love them or lose them" I had three choices retire, go elswhere or find a new position. I interviewed with Collins for a great job and was going to be offered it, but then they had turmoil with their merger of Ratheon. I ended up with a great job and a great boss.
Health insurance. Yes, the need for that has made some employees stay longer. But here's a little secret for people who remain. Max out your HSA every year and pay your medical bills out of pocket (use them for the medical deduction if your total deductions are greater than the new standard deduction). Your HSA will grow quickly, especially if you are 50 or older and can take advantage of the "catch up" contribution allowance. When you leave HON, you can sign up for COBRA for up to 18 months if you aren't at the magic Medicare age of 65. Then you can join a Health Sharing Plan to bridge yourself to Medicare (unless you have a significant medical condition). You can use your HSA to pay for COBRA, your doctor co-pays, pr-scrip-ions, dentist, eyeglasses. It won't work for everyone, but it will work for many. If you can max out your 401K, you can max out your HSA and use it to plan for your exit.
If Honeywell still covered health care after retirement they would not have the problem they have now. The average age of the Honeywell employee has been steadily climbing for the last 20 years. People would have retired a long time ago and the young engineers and workers on the floor would have the skill 2 keep the company thriving. Management believes that you can get somebody off the street and get them trained and they will have the same skill sets as a person that's been working there for 30 years. It can't be done. Honeywell is going to fail.
@cgi...
Yep, I would be gone as well if good health insurance was able to be purchased - with certainty. More for the spouse than me.
2 words about people working longer. Health insurance. If I could get affordable health care I would have retired a couple of years ago. Yes , I have taken care of my money. 10% into the 401k since the first year I was employed by honeywell. I have been blessed to get 30 plus years in honeywell. Secretly I keep hoping to get riffed with a package. It would force me into retirement and I would make ends meet.
Can’t believe someone would actually post that if someone had 40 years suggest they they should just step aside. There are many circumstances in someone’s life that would mandate they keep working. Also, what if the person started in their early 20s and was not at SS age yet? Something wrong with people to suggest that after 40 years of service a RIF was good for them.
Yep. All about $ both salary and MIPS aka band 4
I would hope with over 40 years a person would step aside and try and enjoy what few years they have left.
49 years? He/She us jumping up and down with joy. Retired with a package!