Was anyone else on the Mandatory call yesterday at 3om EST where they stated they are looking for Volunteers and that they have a target of 20% cuts across the board? Also hinted that if they don't get enough volunteers they will be going to the non-voluntary a-- reaming we have all been accustomed to.
Is there even 20% left?
A few years ago I over-heard one of the contractor Dell desktop techs in IT at my site (who had been there for years) was telling someone about how he only made $15 without benefits. Then he was told by Dell when his annual contract was up that he would have to take a $1-2 pay cut in order to keep his lousy job. He was furious and told them no, expecting to get let go. Instead they begrudgingly allowed him to keep his lousy job and lousy current pay with no hope of ever getting an increase. Who that is competent with a family or a life would stay for that?
I'm sure that eventually trickled up to D.C., Darius, and the shareholders, with only urine trickling down from them. Unfortunately that is what most American corps are about these days. The "GE-Smart" way of doing things.
The VRIF numbers were VERY low. VERY few people volunteered which means when the July 4th break is over the bloodbath will start again...
They don't seem to realize that years of outsourcing and cuts eventually get to a point where there is nothing left to cut.
Anyone heard how many or percent of volunteers we got towards the target of 20%?
Are we facing. 19% non-voluntary or only 5%?
Only local site based IT was outsourced to RL Canning which was employees and Dell resources previously
HON uses Capgemini for Servers and DBs, Tata Consulting (TCS) for apps, NTT for SAP with some Capgemini..... AT&T and others for networking.... and on and on.... After this round I bet contractor to employee ratio will be 300 to 1 or more, maybe 500:1
Support IT was mostly outed to RLC & CapGem, even the local Dell support workers were force transferred to interview with RLC. Before I was "not accepted" by the outsource (oh yes, I'd love to do my job for less money, vaca, benefits, NYET!). I had to make a list of all my responsibilities and explain most of them to my distant mgr. and someone in SLP, MX who really didn't perform those functions very well (what a surprise). I hope this trade dispute with "Chiner" (Dave C) trips them up miserably.
I thought IT was outsourced to Dell
homes is full. no more being let in.
I only heard of two volunteers. And they don't know if they are accepted
I guess that means there will be 19.98% non-volunteers told they are being RIF'd in July and August
Anyone volunteer?
I looked into it. They couldn't tell me my last day other than some time in Q3 and for sure before December Basically it could be any time July thru November. Hard to plan around that.
Probably timing so they don't have to pay 401k match
I decided to wait and see if they RIF me instead of volunteering
I figured there will be another opportunity to volunteer in Q1 once I have my match
Actually they do provide incentives for RIFs, even VRIFS...the incentive is being eligible for the same severance package as if you were terminated for performance...or for cause as in most for cases legal won't take the risk of firing without the signed release docs. In some cases, they also offer to bridge service to get someone to the mandatory age. There was talk when I left about the leadership team starting to work on changes to the RIF policy so allow a smaller than normal severance payment for a RIF, smaller even still for a VRIF, vs performance term, it will come eventually. The vacation change is just the first step, no more vacation to pay out when you fire people...cost savings.
Only for those 2-3 months into retirement is a bit of an exaggeration...it depends on your own financial circumstances...I knew people that were 2-3 years from retiring, not months, and took a VRIF...the severance package pay was enough to allow them to retire early or they took the severance and got a service bridge to get to mandatory age.
You might have worked there for 15 years...I worked there for 10...in HR...and did the above routinely. Almost 2000 souls RIF'd in the my 10 years there...so sad.
IT at Honeywell is a POS. Useless. Good riddance.
Dear Better at HR
Not sure where you work but I have been with Honeywell just over 15 years. They have never respected employees or provided incentives for RIFs. And Darius is even less likely to do incentives
He knows 80% would accept. And he knows they can't attract Millennial employees because they want to work remotely and know how to use Google and find comments about future employers
VRIF is really only for those who were within 2-3 months of retirement. Since they don't do gold watches for retirement they can do 6-months of severance and you buy your own watch
My mandatory call was Monday. Two days to volunteer. No .ppt, no details. So, they got no details in return. They can stuff it.
I hope HR actually reads these posts and wakes up! You want to meet your 20% RIF quota? Offer incentives above and beyond the non-volunteer RIF package like real companies do.
How about 2 or 3 extra months of severance ?
Or if you have a pension add 2-3 years on to your age and years of service?
Or bring the 401k match forward to your last day of severance?
Or 1-2 years of health insurance?
And let the employee pick which one of the benefits is most important to them
This isn't that hard. Just treat your employees nicely like real companies
In AZ you can collect unemployment while on severance, at least I did years ago. USAA is hiring 1000 IT workers over the next 3 years at its North Phoenix site, new building there for that purpose. Nice area to live I might add. More than likely have to be a US Citizen and I'd bet no outsourcing to India given their military family focus, they have no job postings outside the USA. Hope that helps anybody looking for a IT related job.
It might depend on the state but you can collect unemployment after the severance runs out.
So I Assume the incentive is to get the one week for every year worked at Honeywell and no credit for unused vacation . Would I do better to just work until they threw me out at the end of the fourth-quarter. thats certainly more than 10 weeks. I believe if you collect severance pay, voluntarily leave, you can’t collect unemployment. Sounds more lucrative hanging to the end. Will I get to keep my meager pension? Or are they are they offering a special one time only get out of jail free incentive? I’m Way over retirement age anyway.
My understanding is all area of IT in USA are eligible under all VPs
IT under the SBGs are not impacted
And the 20% target is overall so Theo may donate 5% and Travis may have to donate 30% on a labor cost rate
Honeywell always uses a standard process like they tell Investors. That's why some teams got an email, and why some were told only verbally and others got a PPT. Perfect process with consistent message. Not!!!
Just wait until they start forcing people to move to Morris Plains, Atlanta, or Tempe (unless they finally close Tempe)
We were told the 20% cut was on a budget basis. So that could mean 1% of the VPs or 50% of the people who actually work. Final numbers are to fix the budget gap. I haven't heard anything on reductions for spinoffs. Our message from leaders didn't clarify if there were more cuts for fourth quarter. This round was for July and August for budget gaps
We were told verbally in our are of IT under LB. same 20% cut or else. And the people that went to Homes or Transportation don't count so really more like a 30-35% reduction in staff. And only USA can volunteer. But perhaps EMEA countries and Canada will only be draftees.
Either way if it's bad now it's going to be a lot worse after this round of cuts and the 4th QTR cuts that will take place due to spinoffs and "No stranded costs"
Curious if the emails mentions the 20% reduction specifically
Did any others receive the CORP finance email?
Corporate finance here and received the same VRIF message yesterday. Same 20% reduction - has to be the portfolio optimization strategy.
Unfortunatley, this looks aligned with the portolio optimization strategy and the hiring of an external partner to manage honeywell infrastructure .... As sad as it sounds, it seems logical as Honeywell is not selling IT, and IT is managed as a cost center and not a core competency.
Unfortunatley, this looks aligned with the portolio optimization strategy and the hiring of an external partner to manage honeywell infrastructure .... As sad as it sounds, it seems logical as Honeywell is not selling IT, and IT is managed as a cost center and not a core competency.
In which area? Sap it always gets hit hard.