How can Honeywell morally justify increasing their dividend in the same year they furloughed and RIF’d so many employees when the vast majority of shareholders are financially stable.
13 replies (most recent on top)
Honeywell is a publicly traded company. They answer to shareholders, period. They don’t have to morally justify a darn thing to a current or former employee. You are incredibly naive if you didn’t already understand this.
“Hey Honeywell covered our medical on our last paycheck today. 60 dollar bonus!!”
I assume sarcasm? Insurance is based on a per month cost.
December had three pay periods, thus no charge on the third paycheck for December.
Nothing is free at Honeywell except your time in excess of 40 hours per week.
@1les+18F8hFH4 - Return to the top 1% that own most of the stock. Honeywell / Allied Signal is moving away from a product company because the newer leaders are finance guys and could give a sh!t. WS likes nothing but cash. They put pressure on the company to produce cash and pay dividends because most of the WS firms run funds that have to be all in at all times - insurance companies, endowments, etc. and all this ETFs - they live on dividends and if/when the dividends start to look a little sketchy, they move on with their huge $$ and the stock takes a hit. It is a very short term way of thinking.
Hey Honeywell covered our medical on our last paycheck today. 60 dollar bonus!!
A great thread here that perfectly sums up the culture and what Honeywell is all about! They do not care about their people. With guys like Darius and Madsen at the top filling their pockets, they have convinced themselves that they are making the hard decisions to run a world class company. Haha, Let's see where the company is in the future...their short sightness will definitely catch up. Oh by the way Darius and Mike.....you think you can get away with not listening to your employees and see them as simply ways to cut costs.....go ask your customers what they think about you, they are the ones that generate you the revenue. I am so happy that HW is in my rearview mirror. Hope you all can move on get away from this mess. Another GE in the making.
What is not moral is misrepresentation of the value contract between employees and the company.
For instance — mandating engineers work 45+ hrs beyond the terms of their hiring arrangements (40hrs per week core) as a systemic requirement of employment with no additional compensation is not moral. It especially heinous when this is openly done to increase revenue based on billing customers hourly for that time worked at reduced rates.
If this was encouraged with cultural or monetary rewards ... fine. But to build an organizational wide Tableau page that lists every name in rank order by hours , that is grossly wrong and smells of blackbook management. It also ENCOURAGES mischarging and has made a culture of dragging tasks out for months that should take days.. people get rewarded for working long hours and being a hero. Feedback from customers? — “you are too expensive Honeywell”. Gee I wonder why.
And while I’m ranting....don’t give me the “balance with milestones” BS. Milestones are a game of hot potato for us managers. All that matters is who is blamed. Ideal program is one that has an open checkbook (gov), is late (overtime/yield), and has another department that is just a bit later than you are. Instant glory. Start writing the team awards. Screw the customer than was damaged by the culture of “billable hours are THE single most important thing.
Ps: second best program for me is one with low quality... all the overtime we need and always someone to blame who has left the company.
I know “EEI” is forbidden. But Honeywell had to be forced kicking and screaming to let it go and there is still the unspoken mandate. Just can’t talk about it ... kind of like that band five compensation update in December. Shhhh
If you aren’t allowed to talk about it.... it isn’t moral.
Agree its not a good look but it IS the job of leaders of a publicly traded enterprise.
It is perfectly moral to RETURN money to investors. RETURN, as in, investors put up a lot of money with a reasonable expectation of a RETURN on their investment. It's no different than employees who invest their time and contribute their value to a company in exchange for a RETURN on that investment.
Duh, the whole purpose of the company is to convert employee time/life/energy into money. We are nothing more than raw material.
That’s why you have a number not a name.
Now line up and hold still for your brand, I mean badge.
well they don't have to justify it - but their actions confirm just how much bs they spout.
more rifs coming in the near future
Because the guys at the top make more money for themselves when they please the investors, not the enployess. Sadly, they don't care about morality, ethics, or basic fairness.
Why do they have to justify it morally?
Don’t forget they also clawed back merit increases and then gave shareholders a 3.3% divided increase. Immortal and bad optics for an employee’s view.