- has Honeywell cut it’s way to profitability yet? Since that seems to be their only strategy...
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Next step. ALT rides stationary bikes in the basement during work hours to provide power to the facility
I think they're going to list all the pens, excess monitors and keyboards on go direct trade for a lighting fast sale.
I heard the Deer Valley hangar is for sale.
The only things left to sell in Aero are the physical assets: buildings, testing equipment, land, office furniture, etc. If the future is what we make it, then no investment in the future = no future. That future has now arrived. We're at the end of the line.
Besides all of the evidence you can see with your eyes that mat indicate a layoff is happening, there are also a ton of buzzwords that organizations throw around when an event is imminent. You’ve probably heard all of these before because many of them have become cliche. Here’s a brief list:
Rightsizing
Downsizing
Workforce planning
WARN notice: If you hear talk of a potential WARN notice or have seen one
Efficiency changes
Layoffs: The rumor mill is strong. If you hear layoffs mentioned by your boss or your coworkers, it’s strong sign (obviously) that they are coming.
All of these buzzwords could mean layoffs, though it is important to check the facts and make sure you don’t spread rumors that aren’t true.
I can’t wait for it to get sold. Best thing for everyone at this point. Maybe it’ll still tank after a sale, but that risk vs the current path is preferable.
Who cares now? I'm waiting for the sales sign to go up. When I think about the stupid non-value added things I had to do while employed with Honeywell, I'm carefree and laughing. The people they rif'd from my site is absurd. There were so many people that did so many things, I can't believe they let go who they did. Shaking my head and laughing because it's only a matter of days before they realize how stupid their decisions were. I cry for those left because it's not their fault the things they're getting stuck with and only hope and pray they're able to get out sooner than later.
Below is a link posted here on Honeywell Layoffs a few weeks ago regarding the signs more layoffs are coming. It’s appears to be a good list of typical indicators that a new round of layoffs are coming. If they plan to lay off up to 50% of the non production and white collar employees over the next year some of this signs may indicate the timing of the next round of layoffs.
Signs More Layoffs Are Coming
https://www.thelayoff.com/t/15D8VWFN
https://www.investopedia.com/terms/r/restructuring-charge.asp
@edq: See the link for a description on how it works. The 3rd and 4th quarter statements will show the restructuring charges associated with the costs of layoffs like severance payments and other associated costs for that quarter.
True shell game. At no time does my hand leave my arm.
The RIF payments go into a special account, so the salary savings will be in Q3. Meanwhile, in Q2, Aero is reversing every "special" reserve they can that they already had on the books. Accounting chicanery at its finest, and hiding a lot of it from the auditors.
Maybe someone can explain how the accounting works. How does HON show savings due to RIF's, if they are still paying severance? I know of many long timers that are being paid through year-end. Is it not a labor cost due to maybe being in a different accounting classification?
We won't know until the 3rd Qtr earnings are reported in mid October.