Publications
Publications
- October 2014
- HBS Case Collection
Honeywell and the Great Recession: The Economic Recovery (B)
By: Sandra J. Sucher and Susan J. Winterberg
Abstract
Five years after the Great Recession, Honeywell's CEO Dave Cote and his executive team reflect on the choices they made to manage costs and earnings forecasts during that uncertain time. They discuss which cost cutting measures they decided to take and their personal decisions of whether or not to accept bonuses in 2009. Cote also discusses the challenges Honeywell faced implementing unpaid work leaves (furloughs) in different parts of the world and how he believes the choices they made during the recession positioned Honeywell to respond to the economic recovery.
Keywords
Layoffs; Furloughs; Downsizing; Work Sharing; Short Time Work; Recessions; Earnings Forecast; Job Cuts and Outsourcing; Cost Management; Executive Compensation; Crisis Management; Financial Crisis; Manufacturing Industry
Citation
Sucher, Sandra J., and Susan J. Winterberg. "Honeywell and the Great Recession: The Economic Recovery (B)." Harvard Business School Supplement 315-023, October 2014.