Times are tough, but HON is a big company. I understand that every company in the US is going to be hit with this situation and that many people will suffer, but I can’t help to think that HON acted with layoffs and furloughs a bit to early and that they used the situation to go ahead and intensify the layoffs that they planed anyway. Couldn’t help but to think that they could have been more sensitive towards their employees in these times and that they had all the resources to be more sensitive.
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Regular folks are advised to have extra money in the bank to help get them through tough times.
Multi-billion dollar corporations, run by executives with MBA's from big-name universities can't weather a short crisis?
Perhaps if they had saved some of that $10B they used on stock buy-backs last year, they would have the money to get through this period.
Honeywell never wastes an opportunity to screw the employees to benefit the top "leaders" and this is just another example. They are all scumbags.
HON could RIF a quarter of the numerous VPs and Sr Directors and meet the whole year reduction target. Plus would not have any impact to day-to-day operations. I've said it in prior posts, Aero is too top heavy.
But corporations getting most of that $2 trillion. They will keep that to restore their bank account and still furlough, layoff, cut pay, etc. Here comes mandatory ot again to make up for the cut people.
Never let a crisis go to waste!
I'm really surprised we haven't seen red badge layoffs yet in Aero. It seems inevitable but it's either that on continuous furloughs into 2021.
HON will do anything to save money. Just seizing another opportunity.
This corporation is heartless, ruthless, puts profits above all else and the board is just as guilty.
I don't even say from where I retired from.
YOU ARE EVIL!
they are a bunch of horrible monsters
In most states unemployment is not retroactive.
Good luck filing in florida where unemployment is now higher than the average per capita income.
$850/week * 52 = 44k vs 2018 per capita income of $30,197. May not last but while it does HALF of florida will attempt to sign up. Florida gave up and is issuing paper forms ....eventually.
@jtf - Actually, you can file for unemployment even if the 2 weeks of furlough are not consecutive. And unemployment is retroactive. So even if you file for 2 weeks that are 3 months apart, you’ll receive 2 weeks of unemployment. Also, the furlough weeks are staggered so that you still receive one week of salary. If you’re furloughed for 2 consecutive weeks, then you would have zero salary from which any deductions could be taken, such as health insurance, life insurance, long term disability, etc.
Look at the HON timeline. This is THEIR sensitivity
It literately took HON two days after the President's COVID19 request not to be in groups over 50 request, to CANCEL the 2019 raises (very convenient as the MIP's were deposited that day). THEN, it took HON three more days, a full week after the President spoke, to announce a two week furlough. And for the uneducated, notice it is a week staggered for 50%, then two week working, then staggered weeks again. This has the effect of screwing over the employee, so that you can not file and receive unemployment benefits (only in effect if out of work for more than one week).
Yea, real SENSITIVE.
Other company's, Aerospace and outside of AERO, have chosen to help and assist their employees, as compared to HON that has chosen to F– them over and screw them as much as possible. Two weeks EXTRA vacation for Q3 and Q4, 100 hours EXTRA sick time, pay raises, Bridging retirement, severance packages for early retirement, increases in 401K's, NOT Honeywell, pay cuts, no raises, mandatory furlough, and RIF's, oh, but wait, we all have UNLIMITED VACATION ! LMFAO!
B without a doubt
Option A: Get money from federal, state, local grants, private loans to maintain and expand operations but lose money on wages and keep employees around in a time of decreasing demand from customers
Option B: Get money from federal, state, local grants, private loans and cut expenditures so you can keep the executive revolving door stocked with golden parachutes
I wonder what the leadership will choose...