Thread regarding Honeywell International Inc. layoffs

Band 2 got 2.75% as a lump sum

Aero, Band 4, Block 2, 2%

Block 2, band 3 Sr adv engineer

7. 5 combined for merit and adjustment,

I was supposed to get a combined 10.5 prior to covid so basically I'm still underpaid for my level and experience

Band 4 - Block 4
9% merit, 7% MIP

Does anyone know if there was an action to move a lot of folks back to Block 5 again like there was about 2 years ago. To reset everyone one to Block 5? I was told they did that in my review and that is why I am now a 5. I have a history of being better than 5 (except the year they reset everyone). Just trying to check if I am being told the truth.

Band 0 Block 4 = 2.95%

Agree with Q3Cj ... good explanation.
I’m a Corp Band 4/ Block 4. Busted my @$$ off all year long (like many of us). Went through a month of furloughs (which in some ways are better than vacation but s—ed my wallet dry).

Ended up with 4% increase (2% from last year taken away and 2% this year so treading water for busting my butt off). MIP was supposed to be 10% at 100% target but I wound up with only 85% somehow even as a Block 4.

What k–ls me (besides all the layoffs that happened across the board this past year) is that the 2020 stock price (which I believe is one of the biggest factors in deciding the MIP target funding) went from $177 to $209 (18% increase). Frustrating.

And I agree with another poster who said that it feels like we’re worse off than prior years. (But thanks Honeywell - at least we have jobs {sarcasm=‘High’) )

MIPS = Mgmt Incentive Plan is for band 4 and above only, applicable to principal, staff engr, sr mgr, sr pm, etc
The target is 10% for Sr Mgrs and 5% for prin/above engr. Used to be 15% and 10%.
Annual metrics are set up for the target %. So if all metrics are met, ut is 100% of target %. If only 50% of target %
Then the board of directors and CEO can add a multiplier to the target to bunp it up or down. Lastly, our performance determines the range between 0 and 150%

Formula = target % x metric achieved% x BODCEO factor x individual performance factor

There is MIPs this time, as the budget was set aside last year
So for next year, the BOD will determine that budget now and set that aside

There will be no merit increases for worker bees as was the case last year. They will call a snap tier meeting and tell you no increase due to COVID, be grateful for the $500, and then tell you "better be glad you still have a job".

What bands is MIP applicable to? This is my first review, band 3, block 5 and got a 1.8% increase. Didn't know anything about MIPs being handed out

I am an eband and got a 6.3% increase. Was told that most VPs got at least a 5% increase.

12. 5%

What is a typical MIP for a band 4?
Is it worth it?
Is it calculated based on salary?

MIP got taken away 2 years ago because "Test" was part of the job title. Apparently if you're a talented lab engineer, you're relegated to picking cotton on the plantation and not worthy of a MIP bonus like a Band 4 Structural or Project engineer. So, no MIP anymore, but a 4% raise (doesn't make up for the 2.4% I was promised a year ago but was canceled. Busted my but for a measly 2% a year.

I got 2.2%, block 4. MIP 60% of the entitled 15% base.

But I agree with the other commenter, since no raise in 2020, I’m making less than rate of inflation. Then add 2 weeks of furloughs and I’m essentially back to the same pay as 3 years ago.

Much easier to give decent raises to lower salaries after getting rid of higher salaried and expereinced staff. It is a good way making those that remain feel that the Rifs were justified.

Really surprised to see merits higher than 2%. Some folks got 5%, 7%, retention $$s. Don’t get me wrong I’m glad for you, it’s just that my boss said that 2% was the average all around Aero.

2. 5%, block 5. Worked my a## off last year. Plus travel was way up,

In CLW the average that people are willingly providing is about 3.4%, plus most people receiving the $500 hazardous duty bonus. Business never slowed down so I guess we were helping to support the rest of AERO.

Went through the same process last year. Last minute, company decided to withhold it. Then proceeded with furloughs, RIFS. No insurance you'll get it.

I was given 1.5% increase - I was a block 5 performer. Got all of my MIP (Management Incentive Plan) Bonus. But last year I would have gotten a 2% increase, but we all know happened then.

Agree, is MIP being given to Band 4?

Are they awarding any MIP , looking for actual comments

Whatever. Good to hear you all got a raise

2. 5 % but I look at this this way only 1.25% since they took away raise last year. So yeah not even close to a cost living raise but guess do have a lovely Job to go to that was fun at one time but honeywell s—ing life out of it.

2% for coming into the factory everyday last year risking a Covid infection while being passed over on the $750 bonus and never furloughed because I was too important.

What's mip?

5. 4% and a 13.5% MIP.

5%

I got 7.8% plus a retention bonus.

The increase definitely does not match inflation (it’s about 2.6-3% this year where I live . Same as last year)...so 2% increase this year and zip last year, we’re under 4%

Doesn’t matter...they’ll take it back in a week....again

Its averaging 2% if you are not in the elbow. Also this will most likely be taxed away if the new tax law gets passed