Darius announced today via email, but didn’t give specifics..... any rumors? I am for once and for all... mildly excited
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Upgrade my a--......this is a downgrade disguised as an upgrade. What a load of sh--.
To the OP: Now that they have released details, are you still "mildly excited" or as angry as the rest of us?
When you find yourself getting excited or with positive anticipation about something Honeywell may do for employees you should open the nearest drawer, place one hand into drawer, slam drawer closed. It will hurt less than the utter disappointment you'll ultimately feel when they let you down.
About 10 years ago HON provided a pension and a 8% 401K match. Now, new employee have no pension and the 401K in now at 6%. So at one point HON was a leader in benefits, now they are one of the low end. I am sure glad I am retired.
Hearing it will not be back until the other benefits are changed. Look for a promised payout next January for those who are still here.
If people watched the town hall in early January he started it by mentioning the increase. They are raising it from a 75% match to a 87.5% match.
@vxx you got that right. Either way you slice it, you make less and less working here year over year. Between the sh--ty pay raises, the furloughs, benefit reductions or the cost of the HON owned health insurance going up every single goddamn year, you make less and less while the CEO and all his butt buddies get richer and richer.
I wonder if it will make up for the 4% we were boned out of in 2017 with our unpaid 2 weeks of furlough. Or the same in 2016. Yeah, I din’t think so.
They were for many years matching dollar-for-dollar up to 8% of your salary, until they "temporarily" scaled it back. Now, they aren't obligated to give a single penny but unless and until they meet or exceed the previous level they are failing to meet their promise. I'm retired, so I have no idea what the new match is.
It's 1st time they have given something good to the employees since I started in 05. Buuuuuuuut technically this isn't a give; back when the economy crashed, Davey coyote took the match away and promised to return it back to 100% up to 8% once the economy recovered. That was 2009. Here we are 9 years later and the economy is going gangbusters but as usual, we were lied to. If anything, at least HON management is consistent in lying and f---ing people.
Weren’t they only matching 75 cents for each dollar an employee put in? And now they are matching dollar for dollar up to a max of around $6,000 (not sure if max varies for different areas and/or jobs).
Basically a no brained, free money for you if you contribute to your 401/retirement fund.