Who does this? Honestly, is there any other company in the world that went this low?
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This is not the first time. What will happen next is some people will be actually let go and the rest will continue on. As someone else indicated they will reduce benefits and increase employee contribution for the benefits. They may move some departments to be under a different business group to mitigate on paper losses. For example maybe you work for HPS and they move you to PMT. Then they will have a town hall saying how great Honeywell is that despite the hard times we still made our projected profit increase targets. If you look at where that shortfall was made up you find it is directly from the furloughs and cutbacks. In other words they take employees money to make up for losses.
Why aren’t people blasting them on Glassdoor? Help others before joining a company that does not care for their employees. It is sickening.
Its just honeywell the rest of the aerospace world is still doing quite well considering the circumstances. Matter of fact we got raises and are bonus and are health care got cheaper. Honeywell is good for getting your foot in the aero space world getting your experience and then dipping out for a real company that will treat you right sad to say.
you will hear "you're just lucky to have a job" but if you are smart and talented it might not be true.
Once the immediate crisis starts to resolve look to parts of the market with different senstiviteis
Literally every company is aerospace is doing this. We are directly affected by the airlines as that is where our revenue is generated....
"Just be happy you have a job" was the catch phrase back in 2009. You'll be hearing that again very soon!
No company reacts this rapidly by cutting salaries and employees, this is HON specialty
Do you really think they will make healthcare insurance more expensive?
You must be new to HON. This is the only the beginning. Next will be major rate increases to the healthcare.