Dave Cote: How I avoided the LAYOFFS
https://hbr.org/2013/06/honeywells-ceo-on-how-he-avoided-layoffs
Now F-Off !
I'm busy building my dream house on Anna Maria Island, where I bought my Acreage for $4 million!
http://www.heraldtribune.com/article/LK/20151204/News/605206208/SH/
S---AS !
DC had small p....s complex. He could just never get past the fact that he s---ed at GE and was NEVER in the running for Jack Welch’s job. That really bothered him and he tried to be GE sooo much while running HON. I guess he finally succeeded as he got HON on the same death spiral that GE went down.
Confessions of a former GE and former HON leader.....errrr scratch that...change to manager because HON doesn’t like Leaders.
No mention of moving off shore. DC calls it increasing revenue around the globe. In 2008 DC announced the move of all manufacturing from Phx Engines to MX. He said then there would be no layoffs, just attrition, a lie. Today 2 large buildings sit empty. Comment about customer focus also a lie, just ask Boeing and Lockheed.1) DC likes himself a lot, 2) the only customer he cares about is WS (and himself) 3) he laid off a lot of people, as well as did the furloughs.
Well they started the furloughs in Phx aero in 2008. My wife and I LOVED it. We viewed it as just another week of vacation. We would have volunteered for 5 or 6 a year. It was 2010 when Cote started pulling the no raises, cut 401K match back to 5 % from 8%. They screwed with the hourly OT and changing company holidays to calling them PTO so they wouldn't have to pay them double time when they worked them. Lots of chicken $hit cuts like that when it really wasn't needed.
Former HON employee (2002-2016) here. The article is from 2013, and at that time what he said was accurate. I honestly felt HON treated its employees pretty well during the 2009-2010 recession. They didn't do the layoffs, they did furloughs. I probably would feel different if I was one of the ones who had to take many weeks of furlough, but the 2 weeks I took were fine by me.
That said, it was what HON did after that recession that was when, IMO, Cote and the rest of his crew started acting like short-sighted misers. They started chipping away at little things - extra negotiated vacation, etc., - but the first big one was no raises in 2013 (2014?). The company was at record profitability, never stronger, but you couldn't even give your employees the crappy 2.5% raise they were used to? They did it again in 2015 or 2016, and then the round after round of layoffs and furloughs after that.
It makes you want Cote to go back and read this article to himself. I suppose he'd say, well, we're never going to hire those people back again, so it's different. But that would be just as damning. I still know a lot of fine workers at HON, and I feel bad for them. Good luck!
Sick