...and as expected, yesterday Honeywell announced that the layoffs are coming. I guess the furlough didn't net Cote enough to pay off his yacht and vacation homes.
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Any news on ACS layoffs?
We get furloughed but greedy Cote and his buddies get tens of millions in bonuses. To add insult to that, we were told by our manager that we are expected to work uncompensated overtime to make up for the hours that we are furloughed. This type of corporate greed is what is destroying our country and our economy.
Next Wednesday ACS will know who stays and goes. 3rd quarter starts with a bang. After that orders will dictate what happens next. Expect to see more furloughs and lowered bonuses.
Layoffs have already started in Golden Valley MN. ACS to take a major hit. Managers are aware already. Bonus for managers are going away or being cut maybe they will have to earn it for once. ACS still for sale but no takers why would they??? We aren't bring in the business or producing quality products. Are name is mud.
The reason for the cost cutting (furlough(s), possible additional layoffs, extreme tightening of the purse strings) done by HON in 2016 is the financial folks in HON's corporate office OVER PROMISED financial results to Wall Street. So HON's corporate thugs are stepping on its employees to make up for the above mistake... I call that a form of tyranny.
Also Cote is going to retire soon and thus wants to make HON's short term numbers look pretty so that he'd cash out nicely in his retirement (golden parachute).
Management at honeywell are a bunch of cocksuckers.
Nice job of managing your responsibilities, Mahoney. As long as the shareholders get their dividends, then you will get your bonus. Who cares about people paying their mortgage and putting food on the table for their kids. I hope that you and your greed sleep well. Take a good look in the mirror. If you like what you see, it just proves how delusional you are. Welcome to the new Honeywell!
Furloughs, layoffs, no raises, but we have to do our midterm review. Lazy management makes us do our own reviews! I'm glad I'm one of the people probably getting laid off....so tired of SO and CI!!!!!
I heard they were going to wait and see how the 2nd quarter earnings looked before making their final decision. On Friday my manager left crying. She said we'll all know by Tuesday.
All Divisions like you never seen before. No one is safe... over 40..goodbye, ready to retire,etc Job that can be done my Mexico or india are going ..data entry people gone
Good luck to the ACS sector employees. Rumors of huge layoffs this week or next. Orders are way down and it's rumored some products will be manufactured overseas. It's not going to be pretty.
Be ready for quarterly furloughs... as well as weekly furloughs on oct, nov and december...
High performers are being smart and making their organized exit. Honeywell is not for innovative smart people and it is showing. What will be lefts is the engineers who are riding the retirement train and hoping for the best. The Aero Space side is doomed to fail and most likely will be sold by end of 2016 or middle of 2017.