Honeywell To Cut Another 500 Jobs
MINNEAPOLIS (AP) _ Honeywell Inc. will cut another 500 jobs from its industrial controls business by the end of the year because of weak demand.
The latest cuts, about 250 of them at the unit’s Phoenix headquarters and the rest spread around North America, are in addition to earlier cuts in the industrial controls divison, the weakest of the company’s three operating businesses this year.
Last quarter, the company said it had cut about 150-200 positions as part of the integration of its Honeywell Measurex unit into its industrial controls unit.
Including the 500 cuts announced Monday, Honeywell will have eliminated about 1,100 jobs, or almost 2 percent of its worldwide payroll, by year-end because of market conditions. Another 800 jobs are expected to be cut when the company completes its planned $15 billion merger with AlliedSignal Inc. and closes its Minneapolis headquarters.
Honeywell said it hopes to cut some jobs through attrition, voluntary layoffs and the elimination of contractors.