I've read somebody mention in another thread that severance was cut in half several years ago - is this true? If it is, is this something Honeywell does often? And does it mean that we can expect more reductions in severance going forward?
As if I wasn't a nervous wreck as it is...
3gfr
you know, when Allied was Allied, it seems most people loved them...when Honeywell was Honeywell, I can say that in Clearwater, we loved the company and were treated very well. Then the merger came along and the fangs came out. Very sad. Am very glad to be gone from the hell-hole that it became.
in answer to glad to be gone after 33 years. Airesearch/Allied Signal in Phx was never a union shop. UAW tried in I believe the mid 90s to get an election vote but the vote went against them. When it was Allied Signal most people never wanted any part of a union as the company provided outstanding pay and benefits.
It was 2 weeks for every year until around 2008. Then it was 1 week per year max 52 then max was reduced to 26 weeks. In 2016 they removed the 50 mile move rule to push work in office rule
Search for SPD in HR Direct and you can find current RIF benefits
In retrospect, I wonder if Engines was a Union shop? That may account for the 26 week maximum, if indeed that is a fact.
Yes, it indeed DID used to be 2 weeks severance for every year served, so long as you had been there more than 5 years. There was no maximum, and if you were a favorite son, at least in Clearwater, you could figure your desired retirement date and ask your boss for a layoff "X" number of weeks prior to your retirement date. You kept your insurance...no COBRA BS. And once retired, if that was a retirement date prior to Medicare, you would take the group rate for insurance in retirement until then. Not only that, but your pension was a much fatter pension.
I lived through the Allied takeover and afterward, Honeywell was never the same, (Oddly enough, Allied employees say the same thing) and saw my pension evaporate to about 1/3 of what was calculated/promised at my hire date in 1982. Corporate life s---s. Retirement to our ranch and solitude is our attempt at a happy "2nd life" after the miserable last years of our existence prior to leaving via voluntary layoff on a truncated severance.
-1tjx: it was never 2 weeks severance per year of service -- always just one week, at least at Engines, and capped at 26 weeks.
I used to be 2 weeks for every year of service capped at 26 weeks, now it is 1 week for every year of severance. So if you have been there 10 years, you get 10 weeks.
The big change in the severence policy was the one the elimiinated the fifty mile rule. If your job location was moved more than fifty miles away, you could get severance. Now, if your job is moved, you won't get severance, the expectation being that you will move to keep your job.
people like to post things here sarcastically and other people take it seriously.
I was shown the exit ( I retired) after 37 years and working from home was receded. As part if my settlement I recieved 6 mos., medical for those 6+1 months, plus 6 weeks vacation. This was in 2017.
Good luck if you're over 50 and still at Honeyhell
6 months works out to 26 weeks....in order for it to be cut in half...people had to be working 52 years.
Many years ago (i forgot how many) they limited severance pay to 6 months. prior to that it was one week per year of service.