Hold on to your peanuts kids, the word is 2025 will be a shock to folks relying on HW healthcare. It's going to be bad, really bad.
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What Honeywell will find in auditing salaries and comparing them with peers in the industry is that the individual contributors that actually work are severely underpaid. Then they'll find out that management is extremely overpaid. But, the doucheios that run the place will target the real wokers for RIF's, brag about how much money they saved the shareholders, pay themselves even bigger bonuses, and continue merrilo on with the "more h00kers and bl0w for everybody!" philosophy they've always had.
@3isu+1rTe8q03 To be fair, they started doing that in 2022 but targeted our brightest and best. Would not surprise me though if they are doubling down on it, there is a heck of a lot of needless, overcompensated mid to senior management currently.
So many employees self manage nowadays that a lot of management can be eliminated and replaced with just simple administrators to support the bureaucratic tasks.
You are correct. The bengaluru and Madurai salaries are completely out of line with local competition and will be corrected soon. This is driven by the aging work force in HTS. Layoffs at the top soon.
I have it on good authority that Honeywell is now discretely auditing salaries across the US workforce as leadership believe that many are overpaid.
I can not argue with them. There is equal measure here of useless, overpaid charlatans as there are underpaid, talented grafters.
The likely outcome of this is many positions being eliminated and replaced at lower salaries 6 months later, it will be at staggered over 2 years so as to not to be obvious or draw attention.
There are no benefits left to cut. The wages for aero employees in the Phoenix area are no longer competitive. Starting pay at this company will barely cover a rent payment unless you are living with roommates. We can't afford to pay experienced or talented people anymore and as a result the quality issues are sky high. There's so much backlog and past due at my site we have resorted to storing pallets of hardware outside covered in tarps because there's no space left indoors. OTTR and past due no longer mean anything. We no longer seem to operate as a professional organization. The place is a complete joke.
Technical and management types are leaving in large numbers. All over. I'm simply too old to go somewhere else and starting over developing a reputation. I'm hoping to get sent away with a severance. I've got that Walmart greeter job already lined up.
@3tvd+1rTe8q03 It used to be said that employees were the company’s #1 asset (although I haven’t heard this for a while). If this were the case then HW would value its employees. Regardless, who wants to join a company that has poor benefits. To remain competitive HW needs the best talent it can recruit. I for one found recruiting experienced technical staff nigh on impossible. Even then there is a high turnover. BTW there is also a high turnover of staff in India, many of the employees I’ve worked with have since moved on.
Why should the company care and offer anything? You don't quit, you don't form a union, you just complain in here.
This is the part when someone says a union will just make them lose your jobs faster, but even if you gave up all benefits and cut your pay 50%, you are still more expensive than an engineer in India. What really slows/limits the job transfers are export compliance and military contracts.
In the foreign sweatshop that PukeWell is shifting to, benefits are slim to none. The Welchist rope of the American Worker continues.
And expect two week fouloughs this year. At least they spread them out from each other.
Single coverage. Deductible $10,000.
Single coverage insurance - biweekly deductions from check. $300.
Family coverage. $30,000.
Family coverage insurance - biweekly deductions from check. $600 biweekly.
This isn’t true. However, if they made the deductions so high, they’ll never have to pay anything.
If they make the insurance premiums, super high. You’ll be forced to work nonstop overtime to pay for it. This will keep the company running Monday through Sunday and holidays.
How can the executives continue to live the life style of the rich and famous if they have to fund benefits ? It takes away from their bonus checks
Benefits in UK already uncompetitive. Can do better by shopping around. Also reduce tax implications.
9% inflation? exaggerating much?
And a carton of eggs is $2.58 at Walmart.
But back to the issue, Honeywell's insurance is not competitive with ACA plans for many people. Especially for those under 40, a gold plan may be cheaper to buy in the exchange. Two times in the past I picked an exchange plan over Honeywell.
Badsmell aims to move all its work to sweatshops abroad.
I know this is false because the benefits are already terrible
This sorry @ss excuse for a company will continue to nickel and dime people. Looking at ANY way for you to pay more. Get out!!!!
Where is "the word" coming from? Is this speculation or does someone of credibility have the scoop? Fear mongering doesn't help on this site.
No doubt Honeywell's healthcare "benefits" are atrocious.
the healthplan is literally the bare minimum to qualify for an HSA ($8300 for couple in fy24), which is a tax-deferred account that acts as a retirement plan. GREAT for rich but terrible for those that need good healthcare.
" For 2024 tax purposes, an HDHP is a health plan with an annual deductible of at least $1,600 for single coverage or not lower than $3,200 for family coverage."
Seriously? How could it be worse. OMG I'm getting out. I got a 2% raise when inflation is running at 9% and gas prices are at record levels and I cant even afford eggs.