Honeywell’s aerospace division to cut 2,000 jobs

Morris Township, NJ—As part of a webcast announcing a 10% increase in its second-quarter sales, Honeywell International confirmed last week that it plans to eliminate about 2,000 jobs in its Phoenix, AZ-based aerospace division.

07/26/2005


 

Morris Township, NJ— As part of a webcast announcing a 10% increase in its second-quarter sales, Honeywell International confirmed last week that it plans to eliminate about 2,000 jobs in its Phoenix, AZ-based aerospace division. Though about 10-20% of the job cuts will occur via at-trition, most will be made as layoffs through the end of 2005.

 

These job cuts will affect about 5% of the aerospace division’s 43,000 employees worldwide. Approximately 36,000 of these workers are in the U.S., and about 12,000 are in the Phoenix area.

 

Honeywell reports it’s downsizing to help streamline the aerospace division, and make it more responsive. A company spokesperson says Honeywell’s aerospace business is growing and that its sales are up. However, customers consistently report that it’s difficult to do business with the aerospace division because it has too many organizational layers, and that those layers don’t work closely enough with each other.

 

On the financial side, Honeywell reports its sales swelled 10% during 2005’s second quarter to $7 billion compared to $6.4 billion in 2004, primarily due to organic sales growth in each of its four businesses. The company also reported earnings of 36 cents per share, including a tax charge of 18 cents per share for the repatriation of $2.7 billion of foreign earnings related tollion before the aforementioned tax charge) versus $361 million last year.

 

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@reedbusiness.com

 



No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Controller programming; Safety networks; Enclosure design; Power quality; Safety integrity levels; Increasing process efficiency
Additive manufacturing benefits; HMI and sensor tips; System integrator advice; Innovations from the industry
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me