No company that puts profit over its people has a bright future. No company that doesn't reward its employees for hard work and going above and beyond has a bright future. No company that rewards yes-men and a-s-kissers has a bright future. Which means that Honeyhell's future looks really, really dark.
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The comparison to GE is uninformed. GE crashed because they became a financial company with heavy leverage and bets on air transport. The 1999 junk bond crisis was a back breaker.
Honeywell is a different company. It sells mediocre products at very high margin.
Not GE.
You expect HON to plan long-term? Come on! It's ALWAYS been about quarter-to-quarter.
Have you heard about GE! I'm sure they were saying the success would never end....look where they are now, HW is following the same playbook. It will take time, but pi-s poor leadership like this will not have a long term benefit.
Hey, haven't you heard? Honeywell is a sinking ship! LOL! A sinking ship, that still profits in the millions every month. Yep, sounds like a pretty dark future for this company...
@1sxp Just want to thank all of the toadies out there for complying with my wishes. Just had one of my many special CEO equity grants vest. Cha-ching$$$$$$$
The number is far higher than 20000 jobs.
Look over the financial reports and you will see that we had around 103k jobs, virtual all domestic, in the combined companies before the merger. This is before Cote buying spree and UOP. We peeked at 131k.
Now we are down to about 103k with less than 60 percent domestic ( much less).
So down 40k jobs vs the merger time frame. And down 70k if all the added jobs were domestic , they weren’t.
Still the current mandates to cut average engineering rates by 50 percent corporate wide spells out the future.
Meanwhile .. overseas teams can rest assured that Honeywell will never pay them a fair wage for the fine work they do. Bangalore and Mexico and China are nothing but low cost labor pools. Leadership jokes about it in private. The moment a cheaper software coder is found your building will be emptied.
Management of today prefer the toady who complies with their wishes and will not expose their grotesque incompetence. The self-confident technical wiz of days gone by has no place in the Borg of today.
It's been going on for at least 20 years. Honeywell has sent at least 20,000 jobs to Mexico Malaysia, Eastern Europe & other countries from Phoenix and Southern California alone. All in the name of lower labor costs and profit.
Meanwhile, during that 20 year time frame the stock price has gone from 2001 $45/share to the current $225/share, a 500% return. The financial institutions that hold 77% of the Honeywell stock shares are obviously satisfied with the return since they continue to hold them.
Many employees have been unhappy with leadership decisions for many, many years but Honeywell seems to keep humming along regardless of employee satisfaction in the USA.
@OP ... CLUELESS. The most successful institutions throughout history were built on the backs of second class citizens. Modern companies are no exception..ask Amazon workers.
That does not mean I have to contribute to making other people rich.
I work for me.
Honeywell is nothing but another customer in line. Take a number please
Oh yes, another post about how Honeywell is going to fail. Have only seen this 1000xs on this site.
It's also pretty dark when leadership doesn't even want to admit or pay attention to how unhappy their employees are. This place has gone down a black ho-e over the past 5 years or so. Maddog is way too caught up in himself and arrogant to change anything.
Yep, no company that has been successful for twice as long as you've been alive could ever have a future. You absolutely know what you're talking about, and personally know how to run a worldwide corporation.