Thread regarding Honeywell International Inc. layoffs

2ppr,

What happens after Dec 12th?

Does this date have some kind of significance?

Well most of you have severance to last to December 12th......

We lost several more talented engineers to other companies this month. Why wait around for fourth quarter furloughs and another year of no raises just to be the s—er left to turn out the lights for a company that year after year, squeezes it's employees to creat hollow, short term growth while cancelling or underfunded the research and development that would make us competitive down the road? Because that's what the perfect "pre-covid" economy was. The only people it worked for was the e-suite. The rank and file that supplies the technical expertise are just interchangeable, replacable cogs in their "agile" world.

Feels like a slap in the face as an employee.
Off to create a new honeywell hate blog.
Will start with the open source mess that is forge and the con artists trying to sell it.

It was only done to prop up the stock price and make Wall Street think that everything will be alright. Business Presidents (especially Aero) freaking out because they can't hit bottom line targets will cause this to unravel in the next several quarters of earnings releases. It will catch up to them.

Just gd theft, they sleep well after screwing employees like this.

This is the price for being added to the ^DJI.
Lots of fund managers are forced to purchase and those managers have leverage. What a $h++ storm is coming when they give no raises after boosting the dividend. Let's see.... 3% is about 12 pennies a share across .70 billion shares.
So $84M per quarter. $336M / yr. just shy of $3000/yr for every employee.
Did anyone else have to relocate because their building roof collapsed last year?

How big of a raise you say? Let's just say the best raises I've ever had were when I worked for wal mart! Since then I've worked "better" (skill or specialization required) jobs for "better" companies. At one, after being there 5 years my pay had increased a whopping $1.10 an hour. Was told HW would be way better than that + chances for advancement/career development.

Short answer to your question? 0. The raise was 0.

Paying out more dividends is better than wasting it a large acquisition. Should be saving cash for lost Garrett and Resideo payments. Must be some exec stock options vesting soon.

This is overcompensation to shore up the stock price. Increase the dividend - slightly - it signals that the company is strong (when it isn't). Buys time and keeps the stock price high. If this were really a SW Industrial they would be doing the opposite - paying less dividend and investing on new technologies to spur growth. All of this makes no sense - tech companies that increase their dividend are signaling that they are slowing growth. Honeywell, a wannabe tech company, is already increasing the dividend before it even becomes a SW company?

Thanks for all the sacrifices, everyone! We are glad everyone gave up their raises so we could increase our payouts from the stock which is unironically coming right from YOUR hard work! So not only did we steal your raise and give it to ourselves, but your hard work boosted the stock price even more so we got you on the back end too!! Keep working hard all you futureshapers

@hfb+177a2Dn3 - U r correct my friend; until cash runs out. The IBM strategy.

Forget about minimum wage fights, how about a maximum wage or a tightening of ratios between median and ceo pay.

Now you know where the raises went.

Settle down guys... it’s not a secret that poor performing companies who increase their stock payout are set to be in financial trouble at some point. It’s a strategy for insiders to make a cash grab before heading south. Timeline is unknown, but this a clear sign of the start of the end. What do you guys think?

Outrageous!!! How can they get away with this? Clearly snipped from our skin.

Would love to see the next administration (whoever wins) set a cap for C-suite compensation so there is less incentive for the sharks to keep up the RIFs and benefit cuts.

Layoffs, furloughs, cancelled merit raises, cancelled MIP, no overtime. And now apparently Honeywell has so much excess profitability and cash that it increases the dividend to line the pockets of executives and shareholders.

Not surprised one bit - but still disappointed.