Thread regarding Honeywell International Inc. layoffs

after reading the the rules in this site

https://vpa.honeywell.com/assets/references/401(K)_FAQs_US.pdf

So before let's say I'm contributing 8% and I'm getting the match. So next month my value is that much higher and I take advantage of that compounding interest over the rest of the year. Now, with the new rules I'm only getting the compounding interest of my contribution...but the rules say we would get a higher return (30%) it says. Typically mine has earned in the mid 20's. How can it be higher if I'm not getting that every morning added value??

Am I missing something ..been here 22 years and 48 kinda worried for the first time

A number of over 50s have left. Start positive and not negative and you can find something else. Why wait for them to RIF you?

There is opportunity at other companies if you are young. If you are over the age of 50 you are screwed. You will not have an easy time finding another opprotunity. The majority of employees at my location are older and will take their sh-- or retire. They do not want to start all over again and Honeywell knows it.

"I think OP was asking for how the strike price for the stock would be determined, not for you to repeat verbatim what was in the announcements...."

How possibly would one think it would be anything other than what was stated? Do you see Honeywell investing in a system to provide people some sort of adjusted match based on the price of HON stock and when they contributed? Your annual contribution up to the max will be matched dollar for dollar in HON stock in January. It isn't complicated.

Considering what they're doing to 401(k), I see an overarching strategy to further screw employees. We’re supposed to fill in the days we want to use as vacation time for the whole year—by February. I think they’ll put together a graph that shows these days, and they’ll look to see the times of the year when most people aren’t using vacation time. Then they’ll earmark those as furlough days. Why? Because if they earmark days when a lot of people are taking vacation already, it’s a financial wash for them; they pay you for vacation, and if you take vacation time, they don’t gain. But, say, if most people have already used a bunch of their vacation time, they’ll be less likely to reallocate their remaining vacation time, and therefore more people will take furlough days without money—saving the company more money.

Honeywell (or should I say Allied) will screw their employees every possible chance they get this has been made abundantly clear. They are touting that extra 1% as if it has been unheard off, don’t forget they used to match us 8% not-that-long ago. As others have said, it’s time to leave this shrinking ship to the greedy management rats to keep afloat.

Want to give props to the poster above, this was classic. We should start a collection at each site and do the billboard thing !!!

“Or how about a huge billboard with Donald on half it of with his slogan "Make America Great Again" and the other half has Darius with his slogan "We'll Screw You anyway We Can"

I think OP was asking for how the strike price for the stock would be determined, not for you to repeat verbatim what was in the announcements.... read between the lines and think a little bit..... lmao, why would someone waste their time asking for you to repeat a documented fact distributed thru company channels? We’re talking actual deets, baby!

A better idea. Just leave the company. Get a match somewhere else.

"any insight into the deets on how the match will be distributed like was questioned in the original post? "

It's been answered several times and is pretty clear on its face. Paid out annually each January.

"What’s with the vitriol?"

There is plenty of vitriol posted on this site regarding Honeywell. Seems pretty understandable considering employee benefits continue to be reduced, non-stop reorganizations that produce little in the way of positive results, and a sharp increase in furloughs & RIF's.

If you leave before December 15 of that year you get NOTHING. This is BS and time to leave

Read all the scoop and propaganda in the FAQ's https://vpa.honeywell.com/assets/references/401(K)_FAQs_US.pdf

the short answer to your question is:

When will Honeywell make the contribution into my account?

Rather than having a match each pay period, for employee contributions posted to participants’ Plan

accounts from and after mid-April 2018, any match will be paid annually in a lump sum by the end of

the January following the calendar year. Employee contributions to the Plan will continue to be

deposited each paycheck.

What’s with the vitriol? Jees, guy from Florida, get over Honeywell and move on with your life.... meanwhile everyone else, any insight into the deets on how the match will be distributed like was questioned in the original post? A levelheaded response would be appreciated, but maybe I can to the wrong place... haha.

This thread seems to be all about pissed off (as they should be) people complaining, and other pissed off people reading the posts and maybe adding their own comments.

Maybe this does some good in the sense that perhaps it is a place to vent. Other than that it has no value. If you are hoping some prospective Honeywell new hires will read this and change their minds about joining Honeywell, IMHO....that won't happen.

If you are thinking Darius will read these posts and change his attitude about screwing his loyal employees, that won't happen either.

If you have a set of breasts or balls big enough to get outside the box, you'd realize the only thing that can make a big difference is unfavorable media attention. As an example just look at the "Me Too" movement.

What about asking some local news outlets to give this some "Air Time"? At the same time get the Homes and Transportation Systems Spinouts some "Air Time".

Or how about a huge billboard with Donald on half it of with his slogan "Make America Great Again" and the other half has Darius with his slogan "We'll Screw You anyway We Can"

When in doubt assume you'll get screwed. That's rule #1 with Honeywell anyone who has worked there long enough knows.

Secondly there is no strategy with regard to your 401k match. Everyone will get their matching funds deposited at the same time and it'll be based on the $$ you contributed. They're not going to rebate you based on where HON was trading when you contributed to your 401k. You LOSE any growth potential on that money (eg you get screwed, refer back to first comment above).

"unfortunately we’ll just have to take whatever rotten carrot they toss us" - Spoken like a serf. Honeywell doesn't own you or your labor. You do. Sack up and find another job elsewhere. There are tons of opportunities for anyone interested to look.

We don't have to take sh--. I'll be looking for new job. Those corporate thiefs can take their match and shove it.