For example, compare to GE, which is about 3.5 times the size of Honeywell as measured by both revenue and market cap. However, GE has only 300k employees , that is equivalent of Honeywell to have only 85k employees (300k divided by 3.5). Honeywell currently has 125k employees, which means about 40k have to go via attrition, RIFs, turnovers, etc…
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GE aero is growing profit and sales while HON cuts it's way to the bottom. What's sad is that HON had better a better profit a few years ago when the headcount was even more divergent.
To the original poster, headcount is not the only indicator of a businesses efficiency. It had less to do with census and everything to do with leadership and culture.
Not that logic has a place in most of these discussions, but AiResearch (I hired on in '68) has dozens, if not hundreds, of engine outlines, mostly APUs. GE has many fewer.
That said, there's a lot of deadwood around. It'll be interesting to see what happens over the next year or so.
I disagree the context. Google sales 74.5billion but their employees are only 57000, what logic is behind this then. We should look at number of employees vs revenue in comparison with business they are involved, locations(global high growth) of employees, how much manufacturing is out sourced and etc.. this analogy in my view is incorrect
They will process and Metric themselves to extinction, and wonder what happened!!!
"The real problem is Honeywell has too many employees" that don't freaking do anything
More people at HW (if true) due to stupid hos red tape n metrucs n layers of management. System where people sending out "stupid" data then taking someone decipher what it means then someone else to spin so blame go to correct group n continue down the chain
Funny, huh
Common sense should dictate that the least productive and/or non-productive, and even counter-productive people (and we know who many of those are) and who are also earning the most, should be targeted for RIF, as over the years more and more of them have been added, with the line between productive and non-productive being masterfully blurred to deceive the powers that be.
The company ought to weed out most of these people, and use just a fraction of the savings to fairly compensate the productive people, which will save a lot, and motivate those that are productive to be even more so. They will save 100% on the non-productives, and can use 10% of that to increase productivity by 10% and more. Seems like a win-win for the company. Money motivates.
But that requires common sense, which seem to be in short supply at HON, so never mind.
Nice try on the comparison. There isn't a one size fits all formula for the number of employees in a company. Honeywell could do with less people asking for status updates and more people doing the work. The ratio is about 7 to 1 right now. I only see that getting higher After the pending layoffs.
I hear you brother! I know it's heresy to talk like that at the sites. I've been in Aerospace 37 yrs at large and small companies, but many, not all Garrett/Allied/Honeywell old timers are just way too entitled. This normal furlough thing is BS. For the first time ever I can say that I was not paid for every minute I was employed. We can do it with less business process and more building/shipping... that is what really counts... getting paid!!!
Good point