Thread regarding Honeywell International Inc. layoffs

The U.K. Pension changes are June 30th in the middle of the year so USA changes could come at any time. End of July, end of August, the end of the quarter isn't special. However I do believe they need to give 45 or 60 days notice. When they blocked USA pay raises going into the calculation the rumors started in the summer and they announced the first week of November to go into effect on January 1

I doubt they will or can raise age from 65 to 67 or 68. But I believe they can remove the early retirement options. Like retire at 62 or 60 or with 85 points of age plus years of service. That would scare the 60 year olds into retiring. Or they could do what some companies do. Offer to add 5 years to your age and to your years of service if you will leave by X date

For those still in the US pension plan (around 10,000), the calculation is set up to maximize your monthly payment at age 65. Though it is obvious the earlier you retire the less your monthly payment will be, but it is also true if you retire past age 65. Which came as a surprise to me. So if they raise the age in the US, what do they do with the calculation?

I think it won't change until later in the year. If they pull or execute all cost cuts now they won't have any cuts left for Q3 or Q4 or 2018!

I checked some of the past changes over the years. They happened in every quarter so year end or Q2 are not special. They could announce at any time and go into effect at the. End of a quarter or even end of a month. If numbers are bad or heading towards bad Darius will cut pensions Nothing personal its just business. But it is very personal to us for retirement

Usa did away with pensions for new hires some time ago. Ancient history. Health insurance is next. Software development is the new factory job. If you write code for a living look over a your manufacturing friends.. that is you in 2 years. Take your skills and become independent. Don t be a slave to honeywell's pension promises.

Actually early retirement age is staying at 55 it's the full retirement age with no reduction to pension that is going up from 62 to 67 and will have a larger penalty percent for each year younger than 67

They were told in the fall of 2016 this was coming. Employees protested and Honeywell reconcidered but came back in early 2017 to say they were going forward starting July 1

A few people have announced they will retire early but not a lot. This was probably a trial run before doing it in other countries to see how many people left due to the change. They will have their answer July1. So a US change would likely be after July 1 so they can assess the impact and the savings

YES!