Reduction in force will only affect Aerospace, US, Canada and Puerto Rico.
5-10% of total Aerospace census ....around 2-4k....employees will be informed by 7/29/16
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You assume he cares. Corporate america does not care about america anymore. Its all about $$ anyway they can achieve it.
Cote is supposed to a demorat...... being they are sooo full of compassion for the worker . Don"t give me anything about how bad the repulsivcans are . I know they sold us out .
The Dave Cote war on the American worker continues. If they can't send your job to Asia, they'll just get rid of it or outsource to a third party. Honeywell is dying the death of a thousand cuts with no little to no investment in products for the future. They buy companies with high growth to make the top line number look good while the organic slowly business dies on the vine. Aerospace is a pathetic shell of what it used to be. They put a 20+ year old product on the new Boeing 787 for cripes sake. Cote tried to hide the mess he's created with merging with UTC as they have a nice pipeline of products that are going to kicking Honeywell's old products for years to come. Obviously he was trying to line his Golden Parachute with pulling off a merger and head to the hills with more millions. Hasn't everyone realized the Jack Welch/GE way is only good for the short term and sacrifices the long term? UTC was smart to stay away from this train wreck. Competitors would be smart to not get s---ed into any talks of Honeywell trying to sell off the Aerospace business. They won't have much of a competitor if they just leave it alone and let it die like Honeywell is doing.
So after an exempt furlough in June 2016 at the same time Cote says he wont rule out a Merger and Aquisition since Honeywell is sitting on a pile of cash - we hear that by end of Sept 2016 up to 15% of Aerospace indirect employees will be laid off.
Sweet news, way to go! It's like having your own personal black rain cloud follow you around everyday at work. Oh, bonuses for employees were cut too in June for 2017 payout.
So Mexico avoids layoffs. Impressive for a US company. Really impressed by Cote's patriotism.