Honeywell International Inc. is looking to cut a small number of jobs at its Aerospace division based in Phoenix, the company announced. According to the company officials, they will not provide the exact number of cuts planned or explain if they would be focused in Arizona or throughout global operations.
The company's communications director Scott Sayres said in a statement, that, "We’re implementing a small reduction of positions in certain areas of Aerospace this year to better align our costs with current demand and best position the business for the long term."
"We will prioritize attrition and voluntary departures, and offer job-placement services and related compensation and benefits where applicable. We are confident in the long-term growth of our Aerospace business."
The Honeywell is linked with the American Airlines Group and the Home Depot Inc. as the ninth-largest company in the state in terms of employees. The company has around 9,500 Arizona employees.
According to the employees, the company also canceled its merit-increase program for the year. The company officials said in November, that, they are looking to reduce headcount via attrition, voluntary retirements and backfilling open positions.
The earnings report shows, last year, Honeywell Aerospace revenue declined 2 percent to $15.2 billion. That brought the company $3.2 billion in profit.
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Nandini
