Honeywell Aerospace is cutting jobs, and asking employees to take unpaid days off according to FOX20. The furloughs and layoffs are expected to only affect its international operations.
According to the company’s website, approximately 55% of its revenues are now generated outside the U.S. The company has more than 127,000 employees worldwide.
“We are reducing a very small level of employees in select departments, in about the one to two percent range. We also continue to hire in other parts of our business. We will prioritize attrition, voluntary separation and back-filling the open positions, and offer eligible affected employee job placement services and related compensation and benefits,” Steve Brecken with Honeywell Aerospace told FOX20 in an email.
For its 2014 fiscal year, David M. Cote, Chairman of the Board and Chief Executive Officer received $22,958,590 in equity and cash.
Honeywell Aerospace is headquartered in Phoenix. Honeywell’s Oro Valley plant is part of the aerospace division.