Note in HPS on cost control: no travel, no training, no external hires, no relocation, no overtime. This on top of no vacation accrual, no work from home, de-vesting of 401k matches, etc.
Gee, if these are the good times, what happens in a downturn?
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Drug dealers have the talent/skills/motivation/courage to work for themselves. Does that mean we were stupid to go to engineering school to get an education? Not everyone is cut out to be an entrepreneur. If the capitalist system is to continue functioning, there needs to be a modicum of respect for the skilled worker who is content to practice his trade, be that engineering or whatever. I hear that condescending BS about quitting and starting your own company by wise asses all the time. Here's an analogy -- we we stupid not to pound a basketball 8 hours a day in our youth so we can be NBA millionaires? If you aren't tall enough, athletic enough, or lucky enough you are SOL and damned few make it in that arena. You going to start a company to compete with Walmart or Amazon or Google?
When have there ever been good times for an American employee of a multinational, publicly traded corporation? People work here [corporations] because they lack the resources/talent/skills/motivation/courage to work for themselves.
What happens in a downturn? Honeywell is going to keep doing what they've been doing so long as they're able to get away with it. Consider the fact that you are enabling their behavior by selling your labor to them.
There are no more good times at HON. Just bad and worse if you're a profit s---ing leach, otherwise known as an employee.
It’s a clear message really, regardless of revenue, profit, or stock price, all financial risk will be driven down to the employees. Because it would just be wrong for investors to have to assume any risk.