Honeywell is reviewing an across the board salary deferral in lieu of another furlough round. This aligns with what the automotive industry is doing. All employees would see a 20% cut with an iou for the future. Savings from furlough action is not reducing cost fast enough. Leadership's way of trying to delay RIFs.
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Honeywell share price is starting to climb back up so what’s the problem why do we need to slash our wages when they have billions in the bank
"Across the board" 20% is not a believable, especially since they just announced a special fund is being set up to help some Band 0-2 worldwide. It would cause great resentment within the ranks, I call BS on this post, along with the cancelled vacations for 2020 post.
Heard all B4s are going to get further salary reduc. Not sure how much more though...
ibew.org/Join-the-IBEW - Time to join something that has your back.
Where is the nearest union hall
Where is the nearest union hall
@kbq: you are so right! That is why they will never do it. HON leadership only care about themselves. Somebody should ask this question at each townhall level.
I would but I am a manager and my spine was removed with the promotion to band 4, so I am physically unable.
I really hope this is just a rumor. Otherwise this is a good way to at least get all the younger employees to leave ASAP.
If HON leadership was really serious and concerned, then they would give up 100% of their bonus for 2020. And I’m talking ALL VP’s and Presidents.
Actions speak louder than words....remember Dave Cote said his biggest regret during the Great Recession was that he took a bonus when folks were furloughed and RIF’d. Time to step up VP’s and get real skin in the game.
Cut my pay 20% and I'll cut my effort by 40%. Furloughs and/or reducing hours is fine. Less pay for less hours of work is fair. Honeywell wants to pay us 20% less and expects us to keep working 40+ hour weeks.
Heck no. At least with a furlough I can get $840 for the week right now AND do stuff around my house.
No wonder I am no longer motivated.
Oh hell no please just give furlough
20% cut with an IOU, no thanks, I would prefer the furlough. Remember the 401k match reduction with the promise of it being restored once the storm clouds past. Only partially happened. Same thing will happen here, you will never see the full 20% returned. Who is to say that they would not do a RIF after screwing you out of 20% for several months. Doubt they would honor the IOU if you got RIF'd.