Thread regarding Honeywell International Inc. layoffs

OMG. THIS MADE ME LAUGH!!!

I heard they're going to restore the full match as soon as they move manufacturing & engineering back to the US.

How about never?

Does that work for you?

It works for HI

@3hvv my mistake in thinking this was venue to discuss upcoming RIFs and other actions and just maybe point to where the better jobs are.

i see now that is rather a venue to wallow in self pity about the continued injustices and continued broken promises, being levied on the employees, as well a place to issue useless proclamations of "this is the last straw", " they've crossed the line this time" and "I'm just going to slow my work pace down"

If this is caliber of employees that just keep accepting take away after takeaway, with the only outcome to the company being an anonymous post here. you and your martyr complex deserve what you get. in the case of working for Honeywell getting nothing and liking it.

@ 3hvv & 3ddg,

I think you are on to something, the way they keep harping on free cash flow and predictable outlays of cash, i think they must already have target number in place for the Jan 401K Payout.

i think there are any number of ways they can deny,prorate (9 blk) and or find a business condition to not make the full payment. but we will see soon enough.

Right. What to stop the company from refusing to release the lump sum ? They can say, " oh, we did not make the profit margin numbers, but thank you for your loyalty . " Where as if it was bi-weekly they can not take back what was already released into our accounts. Meanwhile Mr Timmy gets another bonus .

There has been some consternation about when it comes time to pay that match as a lump sum all at once that they may balk seeing all the money they need to come up with.

Never,

1jwf and 1axo you go back to the Glassdoor and drink the coolaid. Maybe you are an HR troll. This web site IS for the workers to voice the injustices being perp'd by managment.

New rule for posting on this site: NO running around screaming and shouting or holding your breath.

Honestly why does anyone care, running around screaming and shouting, holding your breath will not change one dammed thing. Mandatory OT is hear to stay (I mean aggressive and employee stretch goals) benefits will continue to be cut, and merit raises will be only for the leadership sycophants.

what employee is physically chained to this company? Take control of your own life its petty easy once you stop complaining.

Here are 401K matches of several comparable large industrial companies. You know, Honeywell's match is still pretty good despite the new December payout decision.

Boeing 75% of up to 8% of pay

GE 50% of up to 8% of pay

UTC 60% of up to 6% of pay

Illegal off-the-record mandatory OT was also supposed to be temporary, due to "business conditions". That's not going to change, either.

What trickle down have you gotten with the US corporate tax break and the roaring economy ? So, it ain’t Happening.

It won’t. 401K matches are a U.S. benefit, and the company has no particular interest in spending money to retain U.S. employees. It’s an issue particularly for older employees, which they would also prefer to shed.

I hit Mr James up on that when they announced that last year the increased match . He was the original author of that 2009 letter reducing the match. His response to me was that competitive statement . I reminded him that he said it was "temporary" . He did not like me saying that and told me he refuses to argue the point any more with me . and said goodbye. HR try selling you the notion that 7% lump some is better than "old" plan. That is bogus argument . You have to compare 7% bi-weekly to 7% lumpsum , not the 6% biweekly we were getting. With lumpsum the yearly looses the compounding you get with bi-weekly , and you screwed if you leave before Dec 15. And another thing -- this "loyalty" reward is B$ in that the 401K match originally intended to induce you to save as a added bonus.

They will only pay as much as needed to be competitive. Look at 401k matches at other companies and Honeywell's will be close. Even the match that they do now is pretty good, better than other companies that I have seen. So there is a small chance that it will get better than it is now. The people that made that promise in 2009 (I still have that email) are long gone. The positions have been replaced several times over and NO ONE will feel obligated to meet a promise from a predecessor from 10 years ago. If you want a better match, find it elsewhere.

Remember, your match is 0% if you leave before December 15. The loyalty policy only keeps people "loyal" until December. Shortly after that, people will leave once they have received their match.

Is anyone seriously expecting it to be restored? If anything it will get more watered down.

General experience: When a company takes a benefit, regardless of the reason, that benefit will never be seen again.

It won't happen. Watch for more benefit cuts this fall.