It's becoming quieter and quieter in HBT, I'm sure it cannot be in good way. Anyone knows anything? I'm actively looking outside but can't afford to get kicked out.
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Rumor since January was of a big change starting Q3, since that time we have had a new CEO announcement in VK and he officially started his new role yesterday 1 month before Q3. It seems it is all aligning, VK is set to handle whatever the transformation will be.
My guess is a large cull and simplification of Honeywell. To be honest since the trashing of Honeywell in the last decade it would be the most sensible and pragmatic move for recovery.
Yeh I don't think there were any warn notices in South or North Carolina for this years and last years lay offs. I could not see any on record either. Honeywell are keeping it well under the radar.
Warn Notice requirements looks to vary by state. There seems to be number of affected employees and/or facility closures. It also looks like Honeywell does everything it can to avoid Warn Notices. Thus the many small layoffs and RIFs. I am certainly hoping for a Warn Notice to get posted in my state.
Google WARN notice and your state. Companies post impending layoffs by law. Even if they don't mention it internally until day of.
You have to have a lot of courage, tenacity and talent to turn the ship around. It is a very high risk position to take as the board will punish you for every year you spend and direct money into future investment.
I know VK, he is not of this ilk. Absolutley he will continue where DA left off squeezing the company and applying the usual financial engineering methods to prop up the 'apparent' revenue and take home the all important bonuses that come with that.
DA has juiced the heck out of the business but there is still more that can be had, of course extensive offshoring if one of the avenues for this. DA did well to last as long as he did, I predict VK will be out sooner but that is still enough time to feather his nest very nicely. After that Honeywell will likely be on the discount shelf looking for a buyer (if behind closed doors it isn't already), there is a heck of a lot of valuable IP it can sell even if it is vintage.
So as the poster below states, the heavy layoffs will continue starting in the second part of the year as it normally does. The banks, media and government are desperately trying to tell you the economy is holding on but everyone knows we are on a kn--e edge......so tough times coming and the ship already has a hundred holes in it.
U don't need rumors.
Its a matter of time. Why?
simple, VK can not increase revenue, there is no technology to sell, NO innovation, NO new markets, NO NEW products.
So its all about cost cutting !
Layoff is the easiest way to increase margin and taking jobs to India. And VK gets his stock option. Multiplied with dollar to Indian Rupee conversion,
HE IS SITTING pretty !!
UOP is lucky it’s made it this far. When they started laying off the Career Development Engineers in Road School sometimes just a few days before they were due to start I knew the time had run out for UOP. Nowadays kids have the Internet and know what was done to their predecessors. Sad indeed
Crickets in aerospace. Feels a LOT like 2015. Lot of new leaders, especially in Asia, looking to grab CEO attention with cries of “we can fox it!”
In response to @1mel+1mKLYDa0, currently a second round of RIF ongoing at UK based SST site. First round was in February. Does not seem to be any plan, as those identified are from a number of different roles and at various levels.
Totally agree with your comments about fewer and fewer experienced staff too!
Eventually they'll have an all hands on meeting. Which will tell you that your plant is closing, and this is the first they ever heard of it.
I could never get any accurate information on the Minnesota Minneapolis location. Yet! There's a lot of weird things taking place here too.
Same here in SPS SST, everyone seems nervous but no solid news or rumor just internal speculation. There is only a tiny number of employees here now (all longtimers) that have any idea what they are doing and they are all worn out.