Six years were spent by Dave Cote in improving ailing Honeywell and in the year 2008 Cote and his team confront a fresh challenge: how to respond to the Great Recession. Cote doesn't need to give up the gains and unifying Honeywell. With a fall-off in demand, Cote and the team must decide the way to enact spending cuts in all portions of the company.
They face options, whether to employ layoffs or furloughs (outstanding leaves) for any needed workforce reductions, and whether to enact hiring freezes and other cost-saving changes to benefits and employee and executive compensation plans. All of these selections are hard, if not handled carefully and collectively, they may derail the business's momentum.
PUBLICATION DATE: October 28, 2014 PRODUCT #: 315022-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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