There has been so much illogical cost-cutting within Honeywell that it implies that something large is looming. Are similar things happening at UTC?
3 replies (most recent on top)
Maybe it's not a HON UTX deal but some major merger or divestment is in the works at HON. All areas are re-ORG-ing and all roles are in chaos. Had 4 bosses in 1 year. Changed my scope 3 times and still not clear on scope. This is across all divisions and all functions around the world. Not bothering to clarify or fix until merger or divestment begins
Dave Cote is retiring but he's staying on as chairman of the board and then consulting for some time after that. His replacement is already in training and was picked by Cote as his protege. I work at Honeywell and can tell you that it is a miserable place to work. No raises again in 2016, multiple furloughs and layoffs. Extreme reduction in benefits. They distrust employees much, they have banned telecommuting completely now! The last poster here is spot on in their assessment.
I would LOVE to have my division bought out by UTC. Aerospace is going to be so thoroughly gutted after everyone is RIF'd or quits due to the horrible morale and working environment in general, it will be ripe for the picking. Meanwhile I'm on the hunt to jump ship as fast as possible.
No. United Technologies exited discussions with Honeywell in spring of this year because they and their customers did not believe a merger would result in a favorable outcome. Honeywell CEO, Dave Cote, has a poor reputation with the working class and had expressed his desire to lead the companies if merged. Thankfully United Technologies leadership recognized this and walked away from negotiations.
As a former employee of Honeywell I can tell you Dave Cote was complaining via internal communications that United Techologies pulled out. United Technologies leadership has been cautious on the present economy and did have a furlough this year, however, they have not been making illogical decisions that Honeywell leadership has and continues to exhibit. From personal and recent employment experience, I can say that United Technologies treats their workforce much better than Honeywell. United Technologies is far from perfect but better than Honeywell from a workplace experience perspective.
Many former Honeywell employees like myself have joined United Technologies and immediately notice the atmosphere is much More positive and no illogical leadership rhetoric.
I believe the decisions Dave Cote and several of his executives have made over the last decade demonstrate greedy and make the numbers for Wall Street investors off the backs of hardworking Honeywell employees, not "organic growth" they claim to the investors.
I have nothing but sympathy for Honeywell employees. The company today is not the great company it was prior to the merger with Allied Sinal in the mid 1990s. Latest rumor is Dave Cote and the president of their Aerospace division are retiring this year. Many hope the new leadership will bring a renewed spirit, relief, and value to the Honeywell workforce.