Posted on 08/11/2008 9:47:54 AM PDT by null and void
Honeywell International Inc today announced a 50% layoff in its imaging and mobility manufacturing facility in Skaneateles Falls, NY.
Plans call for the reductions to take place over the next 12 months and affect approximately 290 of the site's 580 employees. Morris Township, NJ-based Honeywell said a number of the business' key capabilities will remain in the greater Skaneateles Falls/Syracuse area including engineering, R&D, marketing, sales, and customer support, as well as other business functions.
To be true, Honeywell is far from alone in cutting back its manufacturing workforce. Atmel earlier this month announced it may soon cut 210 manufacturing and design employees in France. IBM in June confirmed it would cut 180 jobs from its Burlington, Vt, fab, and followed up this week with pay cuts for some of its manufacturing employees there, as well for some employees in its East Fishkill, NY, fab. Mattson in June announced it would lay off 5% of its workforce on a slow down in the wafer fabrication equipment industry. And ON Semiconductor in March confirmed plans to cut about 200 global employees and close a 5-in fab before March 2010 as it merges in AMI Semiconductor.
"This is a very difficult decision, but one that better positions us to grow and compete in the global marketplace," said Kevin Jost, VP of global strategy for Honeywell Security, in a statement. "This is an extremely hard time for our employees, our business and the greater community. We are going to do everything we can to make this transition as smooth as possible for those affected.”
Honeywell International is a $38 billion diversified technology and manufacturing company, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.
Today’s announcement comes after the company in July reported a rather positive Q2 with sales of $9.7 billion up 13% year on year last year and earnings per share up 23% year on year to $0.96. At that time, company Chairman Dave Cote said he expected double-digit earnings for the second half.
How would she be able to prevent this?
Grrrrrrrrr!!!!!
Business cycles go up and down, and certainly big corporations will always be looking at off-shoring.
I note though that cuts were in New York State. New York is probably the worst state in the Union for manufacturing. High taxes, high regulation, corrupt unions - No surprise if an big corp is going to cut, it’s going to first be in “blue state” NY.
By making America a little less business hostile?
I wonder how many of those jobs are heading to China.
She can't but that didn't stop her from promising she could to get elected and reelected. NY voters bought it.
Another merger where 1 + 1 = 0.5.
Isn’t their business largely dependent on the economy?
OK, I’ll concede that it doesn’t lie within the government’s ability to create a successful economy.
It is surely within their ability to destroy one, though.
Iraq War chickens are coming home to roost!
Hey! Haven’t seen you in a while!
How’s the zerObama campaign going?
You would think some enterprising journalist would ask McSame about his umpteen homes' carbon footprint, wouldn't you? The McSame suckup watch continues.
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