What's the latest on spinoffs? Some of the Spinoff jobs are getting posted. Will RIFs to cut ("eliminate stranded costs") occur by June 30 or will they be in Q3 or Q4??
(Before 401k match deadline)
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It's a crying shame how they milk the money out of and run every good business they acquire into the ground. They will miserably fail in the software game. Can't wait to get my last check out of their hands before they come up with a way to snatch that too...
The problem is that there are no leaders in the homes business. There are people in management that are doing a poor job, but there is nobody that can lead the business through this transition effectively and there is no loyalty on the part of the employee base. The worst part is that some of their top salespeople that handle the largest customers are being treated like s#%t, and management doesn't care. Hopefully they will bring in some leaders to steady the business and create a culture that can survive the spin.
They started telling people from Corporate they are being pushed to Homes. All communication to complete by April 30. Transfer to Homes to be official August 1st. No options to apply for legacy Honeywell jobs. Some BS about legal separation
No word if our Hon pension stays with HON and will just be frozen completely once spinoff occurs
Still too many people in Homes and too many in Buildings. Look at the org charts. How many people do you see, especially in engineering, with the tiles manager, sr. manager, director & sr. director with 0 people reporting to them? Staff meeting must be quick.
What is being stood up as Homes is collection of poorly managed, weakly lead groups that were assembled through acquisition, saddled with unrealistic growth goals, burdened with an endless string or ridiculous corporate productivity initiatives and are now completely broken.
Honeywell s---ed all the upside from these groups and is now spitting out the dregs. Call it polishing a turd or putting lipstick on a pig. It's ugly and it stinks.
Seems the Homes Spin is getting postponed. Something we knew would happen. The timeline was too aggressive to do correctly, not that delaying it will change anything......
This aint Homes but I tell you, in the Space sector managers in Clearwater making the Reliability guys run around constantly running FRBs and being FRACA data-base operators. This has crept over to Space Glendale cuz the groups are linked. Made them "floor jockies" because management refuses to hire personnel in Quality , so they add that stuff to rel engineers job duties. Then when the rel guys overspend on that they get beat-on.
Vsd - completely agree. Worst handled Spin I've ever been part of and I've been a part of many outsides of HON. The level of incompetence and outright stupidity is monumental. Someone once described Homes as a dumping ground for morons no one wanted in Honeywell, run with "Leadership" who screwed up the Homes product line in the first place (ensuring zero chance of success for the new business) and lastly a handful (very few) good people who were unfortunate enough to be dedicated to homes products or activities so they had no choice but to go. These descriptions seem to ring true. In hearing the Homes separation may be pushed out to q1 next year they are so far behind.
Zvn - I think you are totally correct. If you go to Homes there is little chance it will succeed and will be a colossal cluster while it sinks. There will definitely be massive reductions before the spin to keep it lean and all those that are "stranded". Stranded being those who Hon doesn't want and Homes won't take.
Then there are the poor b@st@rds who stay with HON. Continued cuts, offshoring and generally being treated like crap. Pretty awful choices.
Good luck everyone
One can only plan that Honeywell will do what is in the best interest of its executives and to make the stock price go up, whatever it takes. That means that one should count on Honeywell to start laying people en masse before the December 15 deadline to qualify for the 401K match payout in January 2019. This optimizes the amount of work that the company can get out of people and minimizes the amount of compensation required to do so. It is unconscionable to do it this way. But, Honeywell executives have never let that get in the way of making a good profit and a giant bonus for themselves. If I worked in the homes Division, I would be polishing my resume and making my bailout plan as soon as possible. In fact, I would be doing the same no matter what division of Honeywell I worked in right now.
I don’t know but the Homes spin is the biggest cluster one could imagine.