I mean really, in the last month we have seen various support functions needed to keep the sites running get slashed in staff cuts. Makes no sense.
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@1irq+ you mean you have a job for now?
What about September?
Will you be on the next RIF list?
riddle me this.
There are so many lies being told on this board...None of us really know what’s going on. I know I still have a job after watching literally 50% of the people I work with eliminated.
I would think SW / IOT is where margins are higher ... legacy hardware is the old business model. Makes sense to me that primes like Boeing, LM, NG, Airbus etc... are looking at moving in on 2nd tier component / system suppliers. R&O is where the margins no? think about it... why invest capital in making old school valves, hx, turbomachines, ECS, etc...
it was a good run ... the stock treated shareholders well over the years. but it was increasingly obvious the company doesn't value their workers...I'm glad I jumped out 6 months ago even at 58 ... the grass is actually greener - you can do it too, good luck to all
There has to be a bigger picture that none of us can see. Cost cutting, RIFs, emphasis on "working capital," delaying payments to suppliers all started before Corona virus. Maybe selling Aero.... maybe cutting costs and saving cash to purchase another company.... Maybe Honeywell has been cooking the books for so long that it's finally catching up with us, just like Enron. Who knows, but I wouldn't be surprised to hear some kind of big announcement.
There’s certainly parts of Aero I’d buy with .gov money on the condition of employing people.
Might make some capital adjustments and knock a few heads to send the message that the old Hon guard is gone along with the deadweight. But in the end, there are parts that could be lead to be very successful.
Won’t happen from the inside though. It would be tricky for an outsider to see it. And the gobs of liabilities sitting on the books! The liability would need a .gov waiver to make it worth touching!
@hoo: In 2017 the world economy was booming in the aerospace sector. Move to June 2020 and everything I read about aerospace companies is they are all hoarding whatever cash they have just to survive for the next several years. It's Just my personal opinion but I doubt anyone is looking at buying Honeywell Aero at this time. Who knows, I might be wrong.
Investors tried to push Honeywell to unload Aero back in 2017. Maybe they are now acting on that push.
@tan: Yea, DC (born July 19, 1952) left in 2017 due to Honeywell having a CEO mandatory retirement age of 65.
Many posts have included rumors of Honeywell Aero being sold. Unfortunately, there is nothing left to sell. No new products, no R&D, brain drain & huge RIF's (especially bad today), a focus on being last into the market (UAV's and satellite business units were recently announced), and horrible quality have decayed Honeywell from within. DC pulled the ripcord on his golden parachute in 2017. DC had figured out that Honeywell couldn't be saved from his incompetence and bad business decisions. Rather than accept responsibility for his actions and watch the slow destruction of the empire, DC resigned from his post and passed the buck to DA. COVID-19 has simply accelerated the inevitable demise of Honeywell.
I hope they sell it off. Then I could come back and pick up my career where it left off after Allied borked us. Lots of unfinished business to do... like making money the right way.
I was just talking about this. AME minneapolis was exempted from furloughs and we were not able to WFH because we were too important to making product/deliveries. Now they are sending almost all of floor support out the door. Seems way too odd.
The best thing that could happen to aero is it gets sold to another company that isn't ran exclusively by incompetent mo–ns.
Definitely a bigger picture at play here