How long has it been since we've had a substantial round? We haven't heard anything about the much smaller rounds in a while, either. Up until recently, we couldn't go a month without learning of more cuts. I'm afraid to think what does this mean. Are thing really getting better or is this the calm before the proverbial storm?
14 replies (most recent on top)
Eventually they will run out of employees to lay off, that's probably why layoffs have slowed. They will start rehiring then laying the same new employees off within three months of hiring them and then you will see layoffs again so dont worry.
Has the number of sites been reduced by 50%? NO. Plus profit margins MUST increase every quarter. QED
It will happen again. Just be ready. Most (if not all) of my leadership chain is based in India. They are horrible managers. No delegating, micro-managing. I totally think its cultural as it's across the board. It's not what you do, it's how many hours you work.
In no ways is it slowing down. Calm before the storm is the right way to put it. The layoffs aren’t making any impact to the bottom dollar therefore, the next strategic move is to wind down the many different locations lock, stock and barrel. When it comes, its going to be a big wave of layoffs happening across the globe. It will be WTF moment...
They wont have to layoff anyone at Aero, people are leaving in droves- attrition rates are so high it is being discussed at every meeting. They have tried to create an algorithm to identify "high risk" employees. What baffles me is their surprise that giving everyone tiny raises, multiple unpaid weeks last year, knowledge that no matter how you perform you can be gone in a second, expensive generally poor benefits and a c-appy one week per year of service severance would get anyone to stick around. So many more people are just finalizing their job search. This place will be a talent ghost town soon- and management deserves it- though they are still clueless on the part they play- echo chamber strikes again when all voices of reason have already departed.
I know I am repeating myself, but it is always open season on older employees / engineers. Age discrimination – it's what Honeywell does better than anyone.
The site closures are the current vogue for reduction in force.
We are starting to pay the price for this as the loss of capability due to footprint changes is becoming apparent to our primes. No worry though... we don’t really want that business anyway.
When the shooting stops the machine guns are just reloading. It won't be long before the enemy is back to mowing down as many as they can see, starting with the old slow moving males, working their way down the ranks of the more agile, until they have to snag a female or two for balance. Always remember it takes an army of hired-gun lawyers to go through all the personnel files to find those who might be "protected classes." Never RIF a person the Feds might feel sorry for. The Feds have more lawyers whose last name begins with the letter "A" than Moneyhell has worldwide.
Or maybe he just decided to retire...
I am more concerned about people not really up for the positions to which they are promoted.
Usual start begins when hirings freeze followed by deployment of resources elsewhere. Groups targeted will be from Aero (travels either leisure or business is not recovering) and UOP (cause planes ain’t flying). Top brass estimates that recovery will only come in quarter 3 this year when government bodies estimates it that it will last till summer of next year. Go figure.
Gugel, UOP CEO, just got his thank you note just today. The usual description, 'he elected for!early retirement'.....
More reorg will follow when the Q1 figures are final. Bracknell office to be targetted.
Attrition is currently sufficient to meet Honeywell’s age and pension burden reduction targets.
Honeywell is currently unable to staff revcog projects with qualified people at committed rates.
The next round of mass layoffs will start planning in Q4 triggered as the US begins to shut down the huge defense contracts put in place by the last administration. This includes the nuclear deterrent refresh and other large contracts. There is no way to do both student loan annulling (you can’t “forgive” a loan you didn’t make) and the big defense efforts currently keeping aero afloat.
Slowing backfilling some positions lost last year. Barring an unsubstantiated fear based reaction, we are in recovery mode.
What HW site you are looking at?