Thread regarding Honeywell International Inc. layoffs

@5yvu+1ogrYfQF Well it is not worth anywhere close to 1.5 Billion now and the value is dropping every quarter. Current Honeywell leadership is incapable of turning the business around so they have to cut their losses at some point as the IP loses value over time. The longer you leave it, the less it is worth, and once it becomes unprofitable it is not only another financial burden but looks even uglier to a potential buyer. Note also that the warehouse automation industry is growing fast, competion is getting stronger fast, businesses now developing solutions in house etc,etc.
Could be that the window to selling is now getting very small.

Lol, they are not going to shut down a company they paid 1.5B for 7 years ago, that is just ridiculous. How would that help the stock price? They are going to try to extract the most value out of it that they can.

I think Honeywell would love to spin off Intellitgrated in lieu of closing it down. However, closing it down would speak to investors that they are will to take major steps to correct the losses of the stock price. A sale would have to provide enough cash to improve the next quarter's numbers, otherwise it won't happen. Just closing down Intelligrated may not help the next quarter, but it may help overall investor sentiment. I think the best thing that Honeywell could do for investor sentiment would be to get rid of JW. Who is responsible for the destruction of SPS.

It might be wishful thinking on our part. I would love to no longer be part of Honeywell. But it would make sense and there is some smoke indicating we’re being shopped around at least.

These spin offs of IGS and SPS seem so silly. I just can’t see it happen. It has to be just rumors by people that are pi---d. I’m pi---d too but don’t see them selling off. I think it is just that. Rumor.

Your factory is cleaner than normal. Our factory is the same way. They fixed a shower head that's been leaking for 38 years. The remodeling the bathroom. Which are a horrible shape.

The Northwest door overhang has always been leaking. They're going to fix it. The electric heater is going to be replaced.

They're going to cheapest way they can. Yet! Corporate has demanded certain things to be done. Like after 11 years they decided that the clean room floor needed to be cleaned.

The list goes on. When Ally signal was known as Honeywell. Start spending money like it's no problem. I smell a rat.

Strictly my opinion, but I’ve noticed the external of the SPS Mason Ohio site looks to have been significantly cleaned up recently, after years of appearance decline and it looking mediocre at best, for it all of a sudden to look so fresh & clean seems like something you might do if you were trying to sell

My group is being told not to do any more projects at certain locations. They are pulling out of some AERO sites.

What’s the name of your group? What projects are you doing at some aerospace sites?

Since your group was told not to do any more projects at certain aerospace sites. My guess would be they are selling them or they’re merging with another aerospace company.

General electric comes to my mind. It was even rumors that Honeywell aerospace, airplane engine division. It was gonna be sold to General Electric.

I never said they were going to sell off the the whole Honeywell Aerospace division. They selling and merging with other aerospace companies. Until Honeywell aerospace is no longer around, I hope y’all have your resumes handy.

CM?

My group is being told not to do any more projects at certain locations. They are pulling out of some AERO sites.

@1osb+1ogrYfQF Spot on!!

Any time there’s a new CEO there are changes in leadership. Thats standard practice and rumors or not, we should expect VK to make leadership and/or structure changes. Otherwise, he isn’t a leader just a seatwarmer. He must mold the company how he thinks will make it better. Whether we agree as employees is another matter.

Unfortunately CM comes across as being totally out of his depth in current SPS role. Honeywell were much more hands off under Dave Cote. There was a definite change in direction with DA. HW have su-ked the lifeblood out of the company I work with RIf’s and department has more than halved in headcount, loosing the most experienced and knowledgeable employees. The current management fail to recognise the value of key staff and the importance of innovation to remain competitive. Sadly I only see a downward spiral from here on in. I think this is starting to be understood outside of HW since the share price has now stagnated over the last few years and the latest results were not well received.

Selling aero is not aligned with Honeywell business plans. Possibly selling a portion of aero.. for sure the sensors business is a cash cow, especially in an era of political instability.

UOP, Intelligrated, SPS .. all potential spin-offs and not core to Honeywell brand.

I know people say this is a rumor. The new CEO of Honeywell. Stated their plan was to increase shareholder value. There’s only a couple ways you can do this.

Through acquisitions or mergers. Now I can read between the lines. What they left out, was relocating plants to low-cost regions. You can guess what states are going to be picked. If you can add getting government contracts without a union. Honeywell will relocate to a State. Who has a right to work law. This means you can belong to the union but you don’t have to pay union dues.

Cheap labor. They also move all US divisions, who aren’t affiliated with military contracts. They were move these divisions to oversee locations. Which will drive down labor costs.

I really expect something to happen is fall. The shareholders can appoint a new Board of Directors. The Board of Directors can remove the CEO. The shareholders don’t want just stock dividends. They can make a heck of a lot more money. When the stock shares increase significantly.

Currently, I think the big shareholders. They’re not currently happy with how Honeywell Stock is performing. I expect major changes.

Honeywell divesting SPS and focusing on getting the other businesses back on track would make a world of sense!!

@hqb+1ogrYfQF In all honesty it makes no sense to have design teams in the US anymore, most of the engineering/development is in China or Mexico which both have established design centers and much cheaper. The China design team is solid, if I had a choice I would pick them every time, but that is out of my control.
In fact if they had their heads screwed on straight India would be a good place to start building an SPS design center since that is where we will soon be leaning towards, tons of cheap, trained designers out there that are good enough for what we do.

prob something dramatic like new headed note paper or a lanyard re-design

smashing it

@OP+1ogrYfQF If you are speaking SPS, I have heard the rumblings too. Not just on the Intelligrated side either, the whole division.

It's difficult to be respectful to my leadership when my small design center site in NJ is on the chopping block and shutting it down is openly being discussed with Singapore.

Have your resume handy and your references trained up is my best recommendation to anyone in SPS anywhere.

Definitely a disturbance in the force…
My guess: selling Aero to GE Aerospace.

In times of turmoil, update your resume and put out feelers. Any Honeywell employee should always have an updated resume on hand.

When plans did not work in Intelligrated, we would constantly rebrand teams, build special teams with no result, constant ... constant reorganization and finally change management. Here is a thought, look at how Jim and Chris built and ran a company. Oh wait a lot of talent have left.