Lucky if you're a supplier get paid 2 twice a year too: https://www.barrons.com/articles/exclusive-honeywell-pressures-suppliers-to-cut-prices-30-51586025112?siteid=yhoof2&yptr=yahoo
4 replies (most recent on top)
When business ramps back up Honeywell will be the last to receive high demand products. I believe this is the opposite of how Cote said he dealt with suppliers in the much quoted article about how he/Honeywell handled the financial crisis.
Honeywell is doing the supply base a huge, big beautiful favor and they are ungrateful. The initial ask was for free material with a plan of paying them after 2 years of free material supply. Then pay net 500 days. But, because of these very difficult times, Honeywell acted as true fortune 100 leader and offered only 30% price reductions and net 180.
Good luck with this. Putting the supplier base out of biz isn't helping HON in the long run. Let them know what customers HON is helping out first!
A quote from one of the frustrated suppliers: “This takes it to a new low.”
I think there is no low too low for this P O S company