What's the latest info?
11 replies (most recent on top)
there were RIFs in Europe this week in shared centers ... Romania / Czech Republic / Poland in all SBGs....
@r8 not sure who are those id--ts downvotting this post... I had to chck the dude is right, Solstice is going crazy, stock almost doubled in 4 months ish.
WTF?
VK is sinking the ship...
barebones IT help not getting any better. amazed at how we are still getting things done when our infrastructure su-ks.
@cq Elliott is also increasing their stake in Johnson Controls... wonder why.....
@OP
No lay off in Solstice AM. Over one hundred new hires, 36 in R&D alone, stock up 70%, since the spin off less than four months ago.
It is all due to VK’s management expertise and SV’s technology chops (just kidding).
I was laid off today and know of one other person who was.
@aa What areas/positions - Rosemont, IL and Des Plaines, IL (Research)?
@av The current pension fund IS self funded at this point. As a pension recipient the last 6 years, I receive yearly fund reports for the number of people collecting and the total assets in the fund.
Bottom line, Honeywell can't wait the ~30+ years when we are all gone and they sweep the remains into the general fund. The number of people receiving payments shrink every year as they pass on. The value of the fund is increasing due to the stock market. Remember the payments are fixed unlike social security. This will end up being a money maker for HW.
Check the annual statement
They SC--WED us when they FROZE the fund years ago. That should have been a class action lawsuit.
I have no facts. This is just an opinion.
Wait until the spinoff is completed. Within the first two years of the spin off, there will be consolidations of plants, plant closures, selling off assets that are no longer related to the business, pay bands dropped, pay adjusted, RIF, layoffs, and furloughs.
Elliot and management is a very aggressive hedge fund. If he says he can get the stock up to the prices he is stating. Within one to two years after the spinner, you better believe it.
Now when I make all these statements. I’m not saying it’s going to take place all at once. Within the two year timeframe. So it will start right after the spin off, and continue until they’re all complete. So some people get an announcements right away and someone will have to wait. Either way I believe the next two years will not be fun.
@OP I believe that there is a layoff coming targeted for holders of pension benefits. The strategy, as far as timing is concerned, is whenever the next crisis will happen such as when they targeted legacy pension holders in 2020-1 (legacy pension holders are a subcategory of pension holders; they are pension holders who were employed with Honeywell prior to the Allied buyout in 2002 that did not elect to go to the ‘new’ pension plan). Honeywell used ‘Covid’ as an excuse even though only commercial airline support was impacted. It was called a ‘mid level management cutback’ but there were non-management senior-level contributors targeted too. In many cases even the first level managers were not informed beforehand which of their direct reports were targeted. That was tough year; many people who were laid off also lost loved ones that year.
UOP another 10%