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  • October 2014
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Honeywell and the Great Recession (A)

By: Sandra J. Sucher and Susan J. Winterberg
  • Format:Print
  • | Language:English
  • | Pages:22
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Abstract

CEO Dave Cote spent six years turning around an ailing Honeywell and in 2008 Cote and his team face a new challenge: how to respond to the Great Recession. Cote does not want to give up the gains he made in transforming and unifying Honeywell. With a fall-off in demand, Cote and the team must decide how to enact spending cuts in all parts of the business. They face choices in whether to employ layoffs or furloughs (unpaid leaves) for any needed workforce reductions, and whether to enact hiring freezes and other cost-saving changes to employee and executive compensation programs and benefits. Each of these choices is hard, and together they may derail the company's momentum if not handled carefully.

Keywords

Layoffs; Furloughs; Downsizing; Work Sharing; Short Time Work; Recessions; Earnings Forecast; Job Cuts and Outsourcing; Cost Management; Executive Compensation; Crisis Management; Financial Crisis; Manufacturing Industry

Citation

Sucher, Sandra J., and Susan J. Winterberg. "Honeywell and the Great Recession (A)." Harvard Business School Case 315-022, October 2014.
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About The Author

Sandra J. Sucher

General Management
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Related Work

    • October 2014
    • Faculty Research

    Honeywell and the Great Recession: The Economic Recovery (B)

    By: Sandra J. Sucher and Susan J. Winterberg
    • April 2015
    • Faculty Research

    Honeywell and the Great Recession (A) & (B)

    By: Sandra J. Sucher and Susan J. Winterberg
Related Work
  • Honeywell and the Great Recession: The Economic Recovery (B) By: Sandra J. Sucher and Susan J. Winterberg
  • Honeywell and the Great Recession (A) & (B) By: Sandra J. Sucher and Susan J. Winterberg
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