More Than 500 Honeywell Jobs Likely to Be Lost

MORRIS TWP., NJ-While nothing is official, a Honeywell executive tells shareholders that most parent company staffers will probably be let go after merger with GE clears its remaining hurdles and is a done deal.

By Eric Peterson | Updated on January 12, 2001

MORRIS TWP., NJ-Most of the AlliedSignal jobs became Honeywell after those two companies merged not long ago, but most of the Honeywell headquarters jobs here will likely disappear after its upcoming takeover by General Electric. That was the message delivered by Honeywell chairman/CEO Michael R. Bonsignore Wednesday at the final Honeywell shareholders’ meeting.

The main item on the agenda at the meeting was approval of the merger. While some shareholders expressed concerns about job losses and pension cutbacks, the proposal passed. The last major hurdle is approval by US and European Union regulators. US officials are said to be taking a look at the two companies’ aerospace businesses.

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