Employees that volunteered will be notified earlier in the week followed by involuntary later in the week. All will be done the same week except for employees outside the US and Canada. These employees are definitely impacted even though they couldn’t self nominate. They will be notified approximately 2 weeks later. For sure these employees think they are not part of the Aero RIF but they most definitely are. Be prepared in PR, Mexico, Europe and Asia.
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In PHX we were told RIFs will continue till Friday. In my team, two more were let go and I heard 5 more names of people I knew. Next quarter I'm speculating we will have two more furlough weeks and more RIFs and into q4 depending on what the economy is doing. Godspeed everyone.
Olathe updates? Have friends that moved there.
I want this week to end!!!!! This anxiety is k–ling me!!!!!
Those that were RIF'd in Urbana were given time to gather their things then walked out. No finishing the day out. I think some were able to say goodbyes, but that's about it.
Non vested 401k matches will be lost if you leave or are let go. (Source, in HCE with 6 months away from vesting)
Admins got it today at clw. Some staff engineers got the voluntary. I put in for it 15 mins after the group meeting 5/11 and was denied last night. Bunch of bs if you ask me.
My site is moving to CLW, all ISC volunteers were rejected from RIF. Design group got some accepted. So Honeywell says keep moving your product lines, we will RIF you when you when we no longer need help moving your work. Thanks Honeywell.
If you are a voluntary RIF you stay through Fri. Non voluntary done end of day you get notified. How it’s been going in CLW.
Honeywell should change the slogan from #futureshapers or whatever bull-schitt they're using now to arbeit macht Frei.
Not vested means they get to keep it. DA enjoys $500 bottles of wine and this will help him drown his sorrows of losing so much in the market.
When do the RIF’d need to leave? Are they being given enough time to transfer their tasks to a colleague?
I suspect they keep it. I had planned to leave before this all happened and was planning to try and negotiate them letting me keep the 401k match (not including current year).
What happens if we're laid off and not fully vested in our 401k?
does anyone know the %% reduction they're looking to target? I heard Aero was looking to get hit by 25%
Tired Director was a bit off... Involuntary started this morning
@1nxl hit it square on the head. If you all think HON is about building engines or avionics or AC filters even c-appy ripoff thermostats, you are wrong. The entire purpose of the company is to make the top few as rich as humanly possible by taking money and value from the employees and transferring it to their wallets. The ONLY thing that matters is the stock price and the income of the top few goldbrickers. The products we produce are merely a vessel to make that goal possible. If it were more profitable to sell paper clips or use tampons, that's exactly what we would sell because the products are meaningless; they're just a means to an end. This is why HON leaders don't care about customers or products; they only care about quality "enough" to ensure the Ponzi scheme keeps rolling. This bubble is a nice wake-up call to these guys that the aero gravy train has run out of track. It will take years and years to get back up to a point where we were just 4 months ago.
Many airlines will go bankrupt and/or retire aircraft which means the used market will be flooded with dirt cheap inventory, which negates the short term need for new aircraft. Sorry Boeing and Airbus. It also means customers won't need new parts, not when they can buy used for 50-60% less. This is where brokers will excel as their operating costs are far lower than HONs and they are fine making a 5% profit margin, where as with HON, the leaders want their money so anything less than 50% is unacceptable.
Sadly, poor planning, greed, and stupidity have gotten us where we are today and there just isn't enough brainpower or gumption at the top to fix it. The plan going forward will be to keep cutting costs, sell parts of the business when possible and try to keep fooling wall street and investors that this is a real, viable business. The ship is sinking and rather than bailing the water out, they pushed the throttles all the way forward.
HON AERO as we know it is finished.
Contractors? Town hall said they will all be gone, when?
I applied for RIF 5/13 and they sent my email out yesterday got it first thing this morning...
Bring it on....just do it & be done with it..but I"m sure they will drag this sh$f; on quarter after quarter until share price is a reasonably price. Hang on folks..it's going to be a rough & tough ride!!@@
Honeywell is a POS company, always has been always will be. I put in for the voluntary and was denied. What gives? They requested volunteers in my group. been there 20 years and they even try to screw you on the way out. I hope this company goes belly up with all their greed.
2usb...
Troll!
Open eyes. Honeywell wants to shut down many businesses. This is an excuse to exit customer commitments once and for all.
Sry Urbana, site closure is the result of late programs and quality issues.
Wasnt it just friday aero pres with unpronounceable name sent emails driving revcog programs to 105+ percent demand? Good luck when we cant get there with staff we have now.
@1hun Pretty sure they rather get rid of 401k match and half the people before touching dividends. Number one priority for leadership is to get filthy rich. Keeping stock prices high will achieve that goal. If you think they give a sh– about saving the company or preparing for the future you haven't been paying attention.
How about keep the jobs, stop the quarterly dividend pay out, put people on 3 weeks on 1 week off, pay cuts. If you cut to much when it picks back up HW aero will be trouble again it takes time to train people
I also believe this. I also bet 1zyh makes a lot of posts not believing anything. And yet stays active!
:-)
I do believe a Director would post this. I know many Directors and do not doubt it.
Does anybody really believe that a “Director” actually takes the time to look at this website AND provide detailed information about RIF’s? Seriously? Unless it’s the Director of Latrine Modifications.
Appreciate the information TD!
Thanks, TD!!
May 18 is a Canadian Holiday.
I want it plz
No warn notices so counts must be below 50 at each site. Fairlure to issue a warn notice after waiting months to layoff is dangerous legally. All the large companies issued WARNs and then sent people home on pay to cover the required notice. I dont buy the "unforseen circumstance argument"...company had ample opportunity to WARN as evidenced by their Q1 investors call.
I believe it isn't BS what that tired Director is saying. They have the insight
@1hsa is correct in that you cannot receive pension payments during the severance payment period. It will cancel your severance if you start pension payments during that time.
I went through a six month severance several years ago. About eight weeks before my severance ended I applied for my pension and chose a start date to begin the monthly pension payment for the first day of the month after severance ended. As a side note, your existing health insurance benefits continue during the severance period. Your 401k contributions stop immediately on your last day of employment.
Read the SELF NOM package HR sent. If you start collecting pension, severance stops. WAIT!!
Per question on if a WFH is fired, I was told that I need to return my Honeywell laptop & phone to IT support before I would be given severance. My end date was several weeks out so I had time to get my Honeywell office stuff. I used the Windows DOS cipher /w:c: command to wipe my hard drive before giving my laptop back.
Will be interesting to know if after the RIF week in AZ there will be more furloughs and RIFs. The town hall indicated furloughs were too disruptive, but also concern there could be more RIFs could cause a distraction as well. Hoping its a one and done deal.
Within a week for AZ.
5/18 is a bit optimistic, salvaging what remains of Q2 is on the top of the list for ALT, and minions are needed for that. I suspect a more realistic date is more like the week of 6/22 for wipeout.