A little birdy told me that after Q1 numbers come out, it is going to get ugly for those business units that didn't make their numbers. Also if you are in hardware focused, high labor cost groups like space, get your resumes ready, because the axe is being sharpened.
17 replies (most recent on top)
To 7zfo from 7hgl: so glad you were amused by my sarcastic description of our leadership.
Agree. -- while sales numbers are SEC facts and are hard to fake.... They can be faked when you know your customers have the right to reject the product you sold and sent
And get their money back due to poor quality or under performance
Town hall said PMT I still going to fix that red score card with "productivity improvements "
Productivity Improvements = OEF = RIF = opportunity to seek new employer
7hgl - Lol...really?!?!
6Wor - appreciate you pointing out the painfully obvious. Tell me more about this "SEC" of which you speak. LOL
What they meant was...
They are making ridiculous cuts for a while to make these numbers and to make the company look better from the outside and like it is healthier than it really is. At some point (and we think it has already passed) you run out of people and critical things to cut.
Point is (and im typing slowly so you understand) no matter what the stock performance is they will continue to cut in an attempt to continue the perception of organic and sales growth.
Those healthy revenue (top line) increases should make it easier to meet promises to Wall Street without cutting costs (divisor) by getting rid of people unless management is simply greedy without any possibility of apology or redemption.
6ftd: The publicly reported quarterly results for HON do matter and you are incorrect on the statement they are "just for show". Reporting company results is governed by the Securities & Exchange Commission (SEC) and they are not "just for show", they are required by law to be accurate.
Your Just for show comment is idiotic.
Doesn't matter. Those are the numbers for the public and are just for show. We will still hear internally how lousy we're doing and in order to meet budget rifs will be necessary. It's going to be an ugly summer.
Well, it's April 20 and the results are out and looking good with YOY comparison (Reuters).
Aerospace sales were $3,977 million in the reported quarter, up 12.2% year over year.
Home and Building Technologies revenues came in at $2,433 million, up 7.2% year over year.
Performance Materials and Technologies revenues were $2,534 million, up 7.7% year over year.
Safety and Productivity Solutions’ revenues came in at $1,448 million, up 9.4% year over year.
21qh. Thanks. Either your in management, work in an emerging market or you are already looking for a job outside Honeywell. Luckily I am retired and don’t have put up with BS.
ghb You are correct in many respects but in the end it is about increasing profit margins with flat or negative revenue growth with current product lines which is only achieved by lowering labor cost, OR moving more and more into software which normally has higher margins.
I got my 6 mos. with medical and was treated well during entire process.
It did not keep me from sharing the reasons behind my departure with no blowback.
The strings aren't that bad... HON approved my self-nomination and treated me well throughout the process. They also allowed me to pursue opportunities with former customers during the 2 year waiting period.
You need to look to your elected officials if you want this to change. Publicly held companies will always do whatever the laws allow to maximize profits.
This is the new normal at HON. As I have stated countless times before, HON has to show revenue numbers no matter what, even if that means reducing headcount below a sustainable level. Shareholder value trumps ANYTHING else especially customers and employees. HON has been busy doing everything it can to ruin AERO so it can become a software company and each day we are closer to that goal!
All they need is the emerging market worker bees. MAGA. 🤓
That six months pay has a lot of strings attached as what you can and can’t say about the Company. Some of us don’t like strings and are glad to come out on our terms especially if they have a hearty 401K.
i know a lot of people who have quit in last month. if you just posted your resignation probably lost 6 months pay for jumping too early.
After a decade of doing everything possible to ruin the space business it's no surprise they're ready to dump it.
I am in amazement that the HON house of cards has stood for this long. They should start at the CEO and send his arse packing!