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"This is a very difficult decision, but one that better positions us to grow and compete in the global marketplace," said Kevin Jost, vice president, global strategy for Honeywell Security.
Employees whose jobs are eliminated will be eligible for severance benefits and job search support. In addition, the company is working with federal, state and local agencies to provide information and support for employees seeking job search and training resources.
"This is an extremely hard time for our employees, our business and the greater community. We are going to do everything we can to make this transition as smooth as possible for those affected," Jost said.
Honeywell International is a $38 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.
Media Contact: Julie Franklin 763-234-3557 Julie.franklin@honeywell.com
SOURCE Honeywell
http://www.honeywell.com
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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