The match system here is terrible!! Paid in Honeywell stock and only in the new year??? Hello Enr0n. Says everything I need to know about this place, they hate the employee. Add this to my new super awesome manager who's more useful than a bump on a pickle and I'm staying for life. If you need me, I'll be shaping futures.
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Also, the match is not even actual shares of HON. It is a Honeywell stock index. Check out the prospectus... monopoly money. I swap it out for other investment options immediately.
With any company who tries to force their stock on you, rebalance the day after payout put the money in whatever other miserable funds a 401K offers. the 401K thing with Honeywell is a scam by the management for sure with a one time annual payout. They try to pass it off as the only way they can afford a bigger match, which is true since employees who aren't on payroll on Dec 15th don't get their match.
I got a nice December RIF days before I could recieve that years 401k match.
Nice Christmas present Honeywell, really ethical. My director also selected my furlough week to overlap my already booked vacation so I did not get paid for that week. Also from what I understand he already knew at that point I was on the RIF list. Honeywell you truly are a FPOS!
Employees have to stay a minimum of 3 years to be eligible for the match. They know that no new employee in their right mind will stay that long and hence quietly pocket the promised benefit. Same goes for the advertised unlimited vacation. Most don’t get to take any vacation as a direct or indirect environment is created where employees can’t take vacation. Again Honeywell benefits from not having to accrue vacation money. The theme runs through every promised benefit.
Exactly right. Honeywell can't allow employees to accumulate too much stock and voting rights. They might get their extreme compensation packages voted down!
Another Honeywell money saving scam designed to give you jack sh-t in 401k match when they lay you off. Even if you don't get laid off, you get 0 for the year if you leave or retire. Assuming you don't time it perfectly which very few people will.
This guy got it right -
https://www.reddit.com/r/engineering/comments/jd22ir/12_things_i_learned_as_an_engineer_at_large/
Yepo they been plucking away slowly at UOP when took over 2010ish but want 1000xs more from us. Dont forget Pronouns are way more important to them also???