Now the largest industrial by market cap, not very big compared to tech but $148 B means DA and cronies get to make out big time. Other companies will unfortunately being to copy abusive practices
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The rewards are for the shareholders and the upper management only. Essentially the money has been stolen from the employees and U.S. taxpayers. It's a corrupt, trickle-up system. There is really no other way to spin this.
The stock is doing well because the company has been juicing earnings by drastically cutting costs (mostly via offshoring). This is not a sustainable strategy as eventually (the largely off-shore) labor costs will outpace U.S. inflation and earnings will go down. The company is not positioned for organic growth, and the long-term prospects are dim. If the employees are being treated poorly on the way up, it will only get much worse on the way down (for whatever is left of the U.S workforce).
@1ebr: What does "Announcements like this come at tops, not bottoms" that even mean?
Announcements like this come at tops, not bottoms. Back in 2000 GE was the #1 market cap stock of all US companies.
OP: Many of the practices Honeywell is using have been in place for over 30 years and pretty much come from an old G.E. playbook from the former G.E. CEO nicknamed "Neutron Jack". None of them are nothing new.
His employee ranking processes were called "Vitality curve", also known as "rank and yank" which are very similar to Honeywell's nine block rating system. Honeywell and many other companies still use these types of rankings today. Do a browser search on the terms in quotations.
Wall street hucksters have been destroying the backbone of America for decades now – "unlocking shareholder value."