On Monday we were told that there will be RIF in Space due to weaker sales, TH just said (@ 1:13:39 mark) "If you look at Defense and Space, and you consider the fact that Space was a down market... Defense (was actually) just blew it away, in a positive way. We had very good sales growth relative to other Defense markets".
https://townhall.honeywell.com/ermweb/action/programguide/viewer?webcastId=623c707e-6d87-11e7-bc87-c0a8315d0000
They bought comdev as a back door to OneWeb, but OneWeb didn't want to deal with HI's process, bloat, etc. Comdev was small, agile and innovative, not an HI speciality, so Oneweb cut them out, leaving HI with a company/tech Space couldn't even talk to freely because of ITAR.
dumb--ses.
Tells a story of bad business decision making. We bought a space company 'comdev' about a year ago. Now the space market is poor and we have to cut jobs?
Yah, but they can't tell the truth because people would be jumping ship (excuse the pun, but "by the boatloads") if they knew the ship was sinking, for sure. They have to keep us guessing, because the trickle effect is more valuable in stockholders eyes, than massive departures in fell swoops.
RIF was never mentioned during the TH, though, only that Space was doing poorly. That's what hurts ALT's credibility - the lack of communication and honesty. Want workers to row the boat? Tell them the truth about the direction in which everyone is rowing.
This.
Yeah dumb--s...defense did well, space is tanking. Hence why there's a RIF in space. This is a business, not a works program. Why carry cost in a business that is in decline month over month, and continues to decline in the next 18 months. For everyone who continues to complain about a publically traded fortune 100 company and why Honeywell isn't the company that it was 20 years ago needs a nice lesson in finance and general business acumen. People are important yes, so long as the business is delivering wealth to shareholders. Meanwhile, Honeywell owes nothing to those who believe they are owed anything. There are many non-profits and government opportunities available out there. In the meantime do your job and be appreciative for your income Honeywell provides and focus your efforts to make the business better, rather than sulk about what you're not getting when tough business conditions exists. Spend a little time looking at how other companies are performing by not operating as effectively as Honeywell.