Honeywell’s CEO and his executive team describe the strategies they pursued in order to reduce the cost, following the five years of the Great Recession. They also reflect the choices of earnings forecasts during the recession.
The case demonstrates the approaches they followed to cut the cost and their personal decisions of whether or not to accept bonuses for the year 2009. The CEO, Dave Cote, also describes the challenges they encountered while implementing furloughs (unpaid work leaves) in each subsidiary all over the world. Along with this, he defines the company’s response to the economic recovery, which they contributed through their decisions.
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