In today's town hall, Mahoney talked about being paranoid of upstart competition. And comparing our gross margins to that of Garmin. Maybe he should consider treating the workers better to increase talent retention and flattening the bloated management structure to reduce the overhead. Also, get rid of the low quality talent in "low cost" geographies. It's expensive to redesign and do everything twice. I smell layoffs for the competent and higher paid workers with real experience.
12 replies (most recent on top)
...without lube...
Dang I forgot to lead it with "Phoney". Phooey.
Bringing back my old adage, "Tim Mahoney Rode the Lonely Baloney Pony Homey".
This is really kind of funny or Sad.. I can remember in the not to distant past where we were the dominant player in Aerospace. when we had comments from leadership that stated we won the contract that we wanted ( and it was most of them), and that there was commerce dept investigation into Hon winning almost everything and possibly behaving as a monopoly. in which we where actually coached on out speech outside of work, regarding out winning of contracts.
I almost never heard a leader mention our completion, yes I knew there we other companies out there, but they were never a focal point of a speech or program launch. Recently though I have seen nothing but a dire focus on Garmin.. and how we need to beat them!
I really do not see how we can beat them, they have many things going for them that Honeywell cannot (will not) compete with. Namely Garmin has invested in new innovative products they are taking risk that Honeywell will not take. Rather than invest in people and product, Honeywell has decided to cut labor cost through forced OT & EM labor, as well as continuing to put lipstick on the old products calling them new. Honeywell's path forward is just the same a GE's buy a company and run it into the ground, repeat until company fails.
And the band plays on..... Mahoney will get his bonus like every year ..... 800K base pay, 800 cash bonus, millions in stock awarded . Total comp 8 to 9Mil /yr . I stopped going to his clown halls since all he talks out his side of mouth about share-holder value..... Besides I come in late in morning. In the mean time my boss has to crow about "group productivity goals" to goad us into working the free OT.
Nobody any "good" will go work for Honeywell now except as a temporary fill-in for a better company. They wouldn't know how to retain anyone "good" anyway. Especially if the economy continues to be on the positive swing.
I remember the birth-of PSE multi-site meeting years ago where they said they were going to "hire good people" and pretty much didn't hire anybody. My group only hired a couple of new people but lost way more than that during the same period. That really is the plan. Just keep beating up those who continue to stay and take it.
Boss made us watch - 3 ring circus. As BT Barnum used to say "there's a s---er born everyday" Sometime I think Leadership views employees that way
You guys still watch the clown halls? Waste of time.
cdb
Except when they have bought somebody, the people either left or were RIFed.
With HON's benefit package or maybe better put as lack of, a reputation for years now of having constant LOs, downsizing ,booting the experienced to the curb, forced relocations, no or very little WFH positions I would think hiring great people would be quite a challenge.
Honeywell has position themselves to be in a great strategic position. Honeywell has $14 billion dollars earmarked for acquisitions. “Bolt on” acquisition. Aerospace is still the biggest part of Honeywell.
Don’t be afraid of startups. Identify those in the right position with the right technology and buy them.
It was very frustrating hearing them talking about putting resources into hiring great people, instead of retaining great people.