Just checked this site for ABB, Emerson, Schneider, Rockwell and Siemens. None of those companies have any recent posts re: layoffs or furloughs. Obviously this site is not definitive but telling that only HON is doing furloughs....
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Some employers value their employees. This is not the case with HON. They shows their power through dumping the burden on the little man any time possible.
Each corporation or business manages it differently in terms of the global economy. One thing is for sure, though, its hitting all the blue chip companies and thats including HON. I will not be surprised that other big industrial companies are making the same move to weather this stormy period.
Unless you live in a cave, GE Aviation announced 10% layoffs last weekend. It's not over, OP, this is the start of a new world for Aerospace corporations. Watch the airline industry, our main source of income, closely.....
They are doing this for their own selfish reasons and taking advantage of their employees, rather than waiting and seeing if it needs to be done later on.
I’m not a fan of the actions, however, making a quick decision may help avoid more serious actions. I suspect our competitors will do the same thing eventually too.