Just told yesterday that a raise for 2016, that has already been delayed, is unlikely. And that furloughs or layoffs are not planned but could happen based on profits at each site.
So, no raises in 2013. Less than average raises in 2014 and 2015. 2015 raises almost cancelled out by having to take a week off with out pay in November. Health Insurance premiums going up up up. And HSA contribution has gone from $1000 to zero.
F--- Honeywell.
I heard the 10% pay cut as well.
I heard Cote is retiring soon. The $5 billion stock buyback, layoffs, furloughs...it is all setting him up for a sweet retirement. I'm not sure how Tim Mahoney can tell us with a straight face the market headwinds won't allow for merit increases.
A look at the jobs site might answer some of your concerns, at least for engineering. The best, most skilled jobs, are almost exclusively posted for Asia and Czech Rep. The remaining ones are US based PE/PM or of the support kind. Few that require skills are restricted to band 3 most of the times; they will remain band 3 or will not be filled....limit the opportunities inside the company, create new groups and centers from scratch overseas, no much need to keep anyone too happy.
Yeah,
Tim Mahoney got millions in bonuses in 2015 .
Company has money to give bonuses to the big cheeses , buy COMDEV and $5B buy back in stock. 10-% increase in earnings. Yet does furoughs , lay-offs, freeze wages , 10% mandatory unpaid overtime, pensions increases no longer (capped) after pay raises after 2015. .......... Whats wrong with this picture ? Do I smell corporate greed. ...... Why do I find myself wishing for collective -barganning.
The pervasive fear that you can be replaced by someone younger & less expensive is a form of brainwashing corporate leaders use as a weapon to enforce unfair labor practices. 18 HOUR WORKDAYS ARE THE NEW NORMAL AT HONEYWELL. WTF? DAVE COTE? This isn't China! Let that sink in for a minute. Many salaried Honeywell employees are being made to work 18 HOURS EVERY DAY. That leaves only 6 hours between shifts. This is disgusting & guess what, legal. Corporate America's new slogan is "As long as it's legal we don't give a f*ck about ethics or morality."
Hey Dave Cote & Mark. M. James, if my significant other dies from complications related to stress from working at your corporate sweatshop - I'm holding each of YOU personally responsible. I will use every legal resource possible to extract my revenge. You are horrible human beings. You are monsters. I wish nothing but the worst for you both.
If you are considering a position at Honeywell go in knowing they will squeeze every ounce of life, confidence & productivity out of you & then cast you aside for a cheaper younger model from next year's graduating class.
No raises here last yr. give small raises march31, layoff announced last Friday, April 29, then told yesterday, may 2nd we have to take a 10% pay it for rest of 2016. So I am now making less money than I did in 2015. Oh, and not all dept are included. Ops, lab, maint, distribution aren't getting any cuts. They all got raises last yr and this yr. Honeywell fears a union forming.
Yesterday was Sunday???
But there is $5 Billion available to buy back stock.