Darius wants to live closer to his house, HQ is moving to NC. It will take place is feb 2019, employees at nj HQ will get the option to move or be fired. Potential for hundreds of people to be let go. Same thing Bezos did with deciding the second HQ for Amazon.
21 replies (most recent on top)
Dwmo but the letter from daruis doesn’t say
moving all the jobs from NJ to NC.
What you ate saying is that they are clising the morris plain. But is there a time frame for that? What do we know?
cdzs From what I've heard and read all of the corporate jobs are moving, not just leadership. Hope your job won't be one of them.
I like how only senior leadership is moving. Only the high paying jobs so they can pay lower taxes, while the rest of us are stuck in a high tax, high COL state. I think one of the big reasons was so that our esteemed CEO would not be in violation of the asinine WFH policy. All Honeywell employees are equal, some are just more equal than others...
Less than three months seems like a really short time to arrange that type of move and the resulting personnel changes.
I Do not doubt the movie will be announced or the reasoning behind it, but of February 2019 timeframe seems quite unrealistic.
Good luck corporate employees as I hear you're getting the news sooner than you think.
-8sah: Thank you. That is a well thought out and intelligent post. (and it didn't begin with "Duh")
Honeywell’s new strategy for getting rid of older workers in high cost states is to relocate jobs to a hub, and/or move that hub to a new location either in a new state or outside the US. Witness Resideo’s new HQ in Austin, not MN, and Connected Enterprise in Atlanta, not NJ. Another way to bring in younger, cheap millennials or outsource more to low cost country hubs. Guarantee that if they do move HQ, the same level jobs will not be reposted at the new HQ (they will change them slightly to make sure incumbents don’t qualify) and if offered, will be at lower salaries and with no relocation. Remember DA ‘s goal is to reduce rooftops by 50% or more by 2019, Bet they announce this right before Christmas or as part of the first investor meeting of 2019.
DUH, i don't think that is what poster said.
Appears to me the poster said that HQ moving to Charlotte has nothing to do with Manufacturing/Engineering facilities moving (due to the NJ tax deal)
Poster appears to me is saying HQ certainly can move, and yet leave the manu/eng in NJ.
Education is a great thing seems to me you didn't due well with reading/interpretation
hey DA - go have another glass of your $500 wine - lol
-4euq: Another meaningless post. There is no evidence or rumor on the internet financial websites of another company attempting to take over HON which could result in the corporate HQ being moved. Move on or post something that can be backed up with tangible evidence.
They thread addresses HQ, not production/manufacturing facilities.
No knowledge of HON, but seems to me that moving what 200 - 300 indirect employees versus direct manufacturing personnel is quite feasible.
Happens all the time with mergers and acquisitions SIkorsky bought by LMT and they didn't keep HQ in CT they were essentially absorbed by LMT HQ.
L3 just merged or is about to merge with Harris. HQ for L3 250 people going to be laid off as HQ is moving to Melbourne, FL.
Why would anyone believe the OP? The person that put together the post cannot even put together a paragraph with basic grammar. The subsequent posts discuss the company investing capital expense into the existing facility and getting tax breaks to stay in New Jersey. I would call B.S. on this post.
Why would they be spending all the money to add lab space to the basement area if they plan on closing HQ and moving?
The Leadership team only cares about themselves. It is a game. They will do whatever they can get away with to enrich them selves and their lives. They do not care about employees or products, just cash - cash for them. Beginning of the end; the next GE.
I haven't heard anything but rumors. However a token move of 200+ people to a low cost state and declaring it HQ could make sense. Then Darius can get out of high tax NJ
Honeywell was paid $40 million by New Jersey not to move to Pennsylvania.
When is the official announcement being made? I've been hearing this since July. Rumors say the announcement is coming out this week.
I left Morristown 6 months before the move to Morris Plains. Honeywell got a ton of money from the state of New Jersey (i.e. NJ taxpayers) to stay in the state. The buildings already existed in Morris Plains; all Honeywell did was renovate them.
They should return to a
work-from-home-is-OK policy
so Darius can do that in
his home office in his underwear,
instead of wasting millions in a new HQ
Didn't they just spend a shiat-ton of money a few years ago building a new headquarters building? Not that this would stop the clueless leadership from flushing that money away, but it's hard to believe that shareholders would stand for it.
This has been the rumor for a while now. Better review the severance policy that had been recently amended by corporate. I guarantee you that the changes are not pro employee......