Do you think layoffs will mirror what the airlines will do in October?
12 replies (most recent on top)
If they can make it to Q3, the election will be right around the corner. The election will prop up confidence in the forecast, good or bad. Then, we’ll all know.
If hon#s are bad, but the market confidence in the forecast of the global economy is good, it’ll be a one-time-blip. If consensus is bad... look out - DA will slit every throat he has to to keep the shell game going.
Q2 announcement is next week? We were pushed like rented mules to get every last nut and bolt shipped in Q2. I'm glad it's over. Not glad we had the subsequent RIF, but there has finally been a little bit of a let-up in the work load past couple weeks. Coworkers all talking of burnout. I think Leadership did everything possible to make this announcement as palatable as possible. Everything pulled forward from Q3 into Q2. It is all about stock price and that is forward looking; I'm not sure there will be much good to say about Q3. Be interesting to hear any comments about Q3 and beyond. Not sure how much more can be cut. I think more likely some talk of site closure or reorg.
Aero Q3 will be in the c-apper despite all the RIFs. The beancounters took all their special reserves, hidden funds for a rainy day, in Q2. There's nothing left to shore up Q3. Planes are barely flying and there won't be flight hours for repair events revenue. What's MM going to do - cut another 35 - 40% employees?
@1ixp Don't worry. There's a big reorg at least at Deer Valley. That and the RIF write-offs will shuffle the books enough that nobody will be able to tell how bad things are.
Oh of course not. Everything is just magically going to get better lol. C’mon man. It is what it is.
Oh of course not. Everything is just magically going to get better lol. C’mon man. It is what it is.
No especially with 20yo products
Q3 numbers looks depressing. Unfavourable compared to Q2 with government contract spending making a slight headway but main jobs are still commercial businesses and thats where the cost is mostly centred at till, maybe, end-2021. The only way Honeywell, namely AERO, is going to make it till then is to keep reducing cost and invest when there is an upbeat. So, from now till end-2021, the threat of job losses will be there. Productivity deteriorates leading to higher costs and bigger cuts. Its a vicious cycle but a realistic view of things to come.
Look out of AERO for jobs that are more secured. Scout within other SBG vacancies if you’d like to keep those years of service but don’t be kidding yourself if you think your job is secured in AERO. It is not and it will never be especially with Big M running this hen house. All staff are treated as greedy & lazy in his eyes and nothing will please him more than to have all staff RIF out and rehired as contract staff. The company doesn’t owe you jack and you should do the same. It is amazing that there are still some of us hoping that the aero market will improve and ramped up like it was pre-pandemic days. Its foolish and dangerous to pin your hopes here.
No
401k match will be cancelled, it won’t be announced until November
Im not stating there will be one, but September is a popular month for layoffs.
Even if you took 10 weeks of medical leave to postpone the layoff date, you likely cant make it to the December 401k match date.
It will depend on the numbers. If airlines aren't flying; they aren't buying. If that's the case they will continue to give employees the axe to continue to fool wall street that this is still a real, viable business. The dangers of investing, I suppose.