JCI Coronavirus Cuts

By John Honovich, Published Mar 31, 2020, 10:57am EDT

JCI has made coronavirus cuts, the company told employees in an email that IPVM has reviewed.

Inside this note, we examine the cuts made, the impact on JCI and contrast to Convergint's cuts.

Cuts ********

*** **** **** ** the **** ** **** employees *** ***** ******** to **** **** *** unpaid, **** *** **********:

***** ******* ***** ** all *** ******, ********* the ********* **** *** me. *** *******, ** theUnited ****** all salaried employees will participate in two ***** ** ****** **** ***, either through a furlough or reduced pay for reduced work. Similarly, the United Kingdom is implementing furloughs across the country. Every other country will determine how to implement in accordance with the local law. We will continue to assess demand in each market and take the appropriate actions as needed. [emphasis added]

*** ************* ** **** the ****** **** *** will ** ********* **** the **** *** ****** such **** *** ***** company ** *** **** down *** ** ****.

**** ******* ****** ***'* various ********** ********* ****-********** JCI / **-**** **, JCI *** ************ ********* Tyco ******** ******** (*****, Software *****, ***, ***.).

** ********, *** ** eliminating ************* ********, ********** contractors, ****** ******* *** pay ******, ***.

Contrast ** **********

*** *********** *** *** biggest ** ******** *********** have **** **** ****, first **********, *** ***, who ** **** ******.

*** ********* *** ** be *** ***** * weeks *** *** **** to **** **** *** being ****. **** **********, salaried ********* *** ***** working **** **** *** being **** **% ****.

***** ** '******' ******* to ** **** - how **** *** *********** crisis ***** *** ******* JCI ** ********** ***** any ******* ****.

Opportunity *** ******* *** ***********

** ** *** ** opportunity *** ******* *** competitors *** *** *** be ** ******** ******** or ******** ** **** such **********. *** *******,*******, *** ***/***** *** by *** **-*****/*** ********, may ** **** ** continue ** **** (**** were *** ********* ******* right *** ******) *** gain **** ****** ********** during **** ****.

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Comments (52)

***** ** *** ** many ***** *** **% pay ***. * ***** off *** ** ** is * ~*.*% **** of ******, *** *** year. **% *** *** is * **% **** of ****** *** *** foreseeable ******.

*** ***** ** *** 20% *** *** ** that ** ******** ** be ***** ****, *** it’s *** ******* *** short ** ***** ****, will ** ** *** months, ***** ******, **** months?

*** ***** ***** ** that **** ***’** ********** you ***’* **** ** do *** **** *** with *** **% *** cut *** ***** **** to **** ***% ** time. * ***’* **** what * ***** ******.

* ***** **% ***, since ** ** ********* unclear ** *** ******* during *** ******** ** can ******** **** *** keep *** ******** *******. I'd ****** **** ******** running, ****** **** ** required ** ***** *********.

** **** ***** ****, if *** *** **********, there ** ** ********* that *** **** ******** come **** ** * weeks.

**** **% *** ***, you **** ******* ** obliged ** ***. **** furlough, ***** *** ** an ********** - **** 50% ** ********** ******* can ** ***** ****... etc.

** *** **** ***** companies ** ***** ****, a **% *** *** is * **% *** cut *** *** ****** of **** ** ***** to *** **** ***** resolved.

************, *** ***** ** unpaid **** *** ** a **% *** ** income ** * ****** month. *** ******* ****** a $**,*** ****** ** immediately ** **** ~$*,***/***** to ~$*,*** ** * single ***** ** * substantial *** **** **** couldn't ******, ********** ** you ******** **** ******* may ** ** ******* trouble ** **** **** their ****.

** *** **** ****, if **** ***** **** for ******* * ****** and ***** ******** ** impacted *** **** ****** of ****, * *-**** furlough ** *** ***** to ** ****** *** they *** ***** ** have ** **** ******* cuts ** **** *****.

**% **** ** ****** than *. ** *** knows ******** ****** ****** will **** ************ *** x ******. ****** **** still **** * *** and *** **** *** should ** ********** *****.

**** ** ******** **** the *** **** **** be *** *** *****. At ***** **** ******** a **** ***** **** will **** ****** ** extended **** *** ************* future. **% *** ****** you ** ******** **** mortgage ******* *** *** food ** *** *****.

** *** ******* ********* was **** *********** *** you **** ********* **** the ******** ***** **** last *** *****, **** would ** ** **** decision. *** **** ****** really ***** **** **** only **** *** ***** and ********* ********** ******* to ******... ********** ***** spending ***** **** ** longer ****?

* ***** * **** return ** ***** ** were **** ****** *** bottom **** ***. ***** folks *** ***** ******* deals *** * ******* that *** ***** **** trickle **** **. **** that ****, ********* **** ramp ********** **** ** at *** **** *****.

** **** ** * second ****. *** **** on ***** * *******. That **** ****** *** business ***********.

**** *** ********, **** can **** **** ******** permanent, ** **** *** evaluate *** *** *** needed *** ****** **** weight.

**** ******* ** ***** country *** ****** **, some *********** **** * job ********* ****** *** other ******** ** ***** pay ********* ** **** are *** ** * furlough. ** *** ** you *** *** **% for * ****** ** on ******** *** ******* if *** ******** ** work.

**** ******* ** ***** country *** ****** **

******. **** ** ****** why **** **** ******** about *** ***** ** the ** *** *** specific ** ***** *********.

****, * ******** **** you **** **** ********. The *** ** ***** are ***** ***** *** we *** ***** **** a ***. *** ** gov't ** ******* **** to **** ****** *** get *** *** *** offering ********** ***** ** companies *** ** *** have *******.

* **** ***** *** forgivable *****, **** *** only ***** ******* ** SMB ********* **** *** or ***** *********, ** JCI **** *** *******.

** *** ********** ****** Going ** *** ** Employees *****? (******** ********** Program)

** ***** ** ****, what ******** **** ********* like *** **** *** doing *** **** ** a *** ******? ******** is ***** *** *** the *********** ***** ** close ***********.

********* ********/ ******** ***** booth*** * *** ****** in ********** *** **** to ******/ ********.

*** *** **** ************** are ***********. ***** ** a ***** ** ***** that ** ******* *****, but ********* ***** ***** be **** ** ** more ***** ** ***** to *********** ** *** show. *******, ** *** don't *********** *** **** out ** ************* **** are ********* ** *** show. (******** *** **** actually *******.).

****'* * ***** ****. I ***** * ***** scale **** ************* *************, but ***** **** **** folks.

** **** **** ******* about *** **** ** our ****** *** ******* our **** ****, ***** we **** ****** ** attend ** *****, ** will *** ** ********* a *********** *** ***** in **** ********** ** when/if **** **** *****.

*** ******** *** ***** on ******** *** ** our ********* ***** ** keeping *** **** ***% on *******, ***** ** an ****** ** ****** to ** ******* **** financially **** *** *********** future (**** *** *****, we *** *********).

****** **** ******* ********, hours, ** ******* ** are ******* ******** ** attending ***********, ***** *****, etc **** *** **** 18 ******. ** **** see *** **** **** out *** **.

*** * ******* ******* decide ** ****** **% Pay *** * ******** employee?

* **** ******** ***** advice **** **** *** constitute ******* *** * constructive ********* *** ***** normally ******* *** ******* to ******* * ******* generally ***** ** * years ***.

*** **** *** **** would **** *** ** a ***** ** *** in *** ***** ** are ******

*'* **** ***** *** different **** ** ********* countries *** ** *** US **'* ********* ***** by *****. *'* ** Texas - *** **** an ******** *** **** whenever **** **** *** an ******** *** **** someone ******** **** ****, without *****. **** ********* choose ** ***** *********** benefits, *** **'* *** required ** ***** ***.

**, ** **** ********, it's ********* *****, ** Texas, ** **** ******* that ****'** ******* * 20% *** ***, ** long ** *** ****** them ****** **** ** the ****. ** ***** words, * ***** *** - ******** ******** *** get **% **** ***. What * ***'* ** is *** - ****'* your ******** *** **** week - * **** 20% *** ** **. I'm *** ****** **'* the ***** ***** ** do, **** **** ** interpretation ** *** *** is.

(*** *** ******, *'* not * ****** *** I *** *** **** at * ******* *** Express **** ***** ******)

************ ********* **** ***** up **** ** ******** resigns** * ****** ** the ******** ******** * hostile **** ***********. ******* ******** ****** the *****, ** ********* another ********** ****** **** is **** **** *** type ** **************, ** not ******* *** ******** your *** ***** *** claim ** ************ *********.

****, * ***** *** employees *** ****** ** they **** * **% payroll ********* ** ** job ** ***. * lot ** ***** ***** companies **** ** ********** mode *** **** ********* leveraged *******. ****, ***** with **** ******* *********, were *** ******** *** a ***** ******** ** the *******.

* ***’* ***** ****** associated ***** ** “**** you ***** ****** ****” are *********** ** * time **** ******’* *********** and ****** ********* ** being ********** ******* ** COVID-19.

** ** ******** ** a ***** ********** ******, I ** ***** **** my ************ ** ***** everything ** *** ** come *** ** *** other **** ** **** pandemic **** *** **** number ** ********* **** it ******* ** ****. Although * **** *** yet **** ********** ** asked ** **** **** time, * ** ********* myself *** **** * scenario *******...

** *** *** ***’* decision ******* *** ****, does ****** ****** **** at **** ******* ****???

**** **** *** **** true.... *** * ******** time **** **** ****** have **** ***** ***** or **** *** ** sit ***** **** ******** their ***** **** ** through **** *** **** with **** *** ****** it *******. * ***** unpaid ***** ** ******* in ********** *** ** anyone ** ** *** doubt ***** *** ****** term ************ ** **** situation *** ******** **** we **** *** ** through ******* **** **** are **** ********. **** is **** ***** ** get ***** **** **** more ****** ***** ** lose ***** ***** *** a ******** ********* *** all. ** *** ******* can ****** ** **** paying **** ** ********* of ***** ** *** at **** ****** **** make ****** ** **** sales **** **** *** doing **** **** *** I **** ******* ** their **** *********** *****.

* ***’* ***** ****** associated ***** ** “**** you ***** ****** ****” are ***********

******* *** *** ** employer, **** ******, ** many **** ******* **** are ** *** **** to ******** ****. ******* what ****** ****** ***** help. **** ** *** spirit ** **** **** question.

** *** *** ***’* decision ******* *** ****, does ****** ****** **** at **** ******* ****???

****, *** *** ********** who **** ******* **** $10+ ******* *** **** many ******** **** ** spend ** **** ******** show **, ****. **** is *** ***** ** this *****.

* ***** **** **** broader *****. **** ** a **** ******* *** risky *********. *** **** cuts **** ***** *** more ** ******* * vicious ***** ****** ** worse *** ***.

** ******** **** ** an ******** ***** ** refer ** **** ***** man **** ** **** a ******** ** **** to ** **** **** shouldn’t ****** ** ******* a ******** **** ******* people.

** *** *** **** - **** ***** - however * ***** **** IPVM ** *** ***** significant ********* ** *** apply **** ******** ** REED ** ****** *** exhibitors **** **** **** that **** *** **** - ***!!

* ***** **** **** to *** ***** *********** influence ** *** ***** more ******** ** **** to ****** *** ********** when **** **** **** cash *** **** - NOW!!

***** *** ****** ******* that. **** *** ******** ********* ****** *** *** *** Erickson **** ** ********* helping *********** ******* ******** their ****:

** ***********, *** ******** blocked ** **** ********* him ** ********.

** **** ******** ********* on *** **** / cancellation ** *** **** July ****. ***** ***, with *** **** ***** 3+ ****** **** *** lots ** ****** ********* each ****, ** *** keeping ***** ** **** immediate *******. *******, ** the **** **** ******, we **** ******** *********.

**** ** *** *** are ******** ******** ******* behind *** ****** ****.

**** *** ****** **** modern *** **********!!

** **** ******** ********* on *** **** / cancellation ** *** **** July ****. ***** ***, with *** **** ***** 3+ ****** **** *** lots ** ****** ********* each ****, ** *** keeping ***** ** **** immediate *******. *******, ** the **** **** ******, we **** ******** *********.

**** - ****** *** a ****** **** *** virus ****** *** ******** in ****. ********** **** ISC **** ** **** as *******, **** **** the ****** *** ******** devastation **** *** ******** is ******* ******, ** a ******** ****.

** ****** ******, **** in ***** ******** **********, the **** *** ***-****** vacation ****** ** *** the **** ** **** any ***** ** *****.

*** *******, *********** *** layoffs, *** ****, ********, closures *** **** **** is ********* ***, **** 2 ***** **** **** national *********, *** ** they ***** **** ******? As **** **** ***** (which ** **** ** will), *** *********** ****** will ******, **** **** the ******* ********.

** ********** ** **** nearly **% ** *** potential ********* **** ***** be ******** ** **** right ****** ** **** and *** ***** **% won't ** **** ** attend, *** ** ********* restrictions.

*** **** ****** ** ISC **** **** ** lonely ********** *** ****** bear, ****** ******** ** thousands ** ******* ** Reed, ******* *** ****** and *** ******* **!

*** ****** ********* ****** from ******* ***** ********** hostage, **** ** **** long **** ****** ** the **** **** **** can ******** *******. **** must ******** **** ** need *** ****? ** don't! ** **** *******, we *** **** **** our **** *** **** event...

** *** ******** ****, Reed ***** **** ********** amount ** ******* *** positive ** **** ***** the ***** *****, ********* the ***** ** ********** in **** **** ** need. ******* *** ****** the **** ** **** for ********** ** ******** in * **** *** West! ******, ****** *** Stronger. ********** *** ********* will ** ****** ** attend ** ****...

****** ******* ** **** is ***** ****** ** realize *** *******. ** not, ***** **** ***** group, ***** ****** * show ** ******* *** West. ** * *** show **** ** ****** I ***** ***** *** of **** *****, **** it ***** ** ****** accepted!

*** *** *** ******* you ****, * ******* they **** ****** *** show ****. *****, * am ***** ** **** it * *** *****, if **** ***'* ****** by *** *** ** April, **'* ** ***** worth **-******** ** ** it **** ******.

* * ******** ** hear ** ** **** friends *** ******** ********** in **** ********. *** surprised, *** ********* ********. I **** ** *** in *** ** **** another * ****** ** this ******** ** ** everything *****. * **** not.

**** ******** **** ** what ** ** *** best ******** ** *** corporation, *** ************ , its **********, ********** *** employees. ** **** *****.

*** ***** ***** ************ are *** **** *** ultimate **** ** ***** what ** **** *** the ***********. **** ******** layoffs **** ** ******* profitibility *** ***** *****, closing ** ****** *** operations ** ***** **** countries ***.

*'* *** ***** *** that ** *** *******.

***** **** ** *** case ** **** ***** however ** ***** *********** has ****** ** *** employees **** ***** **** of ********** ** **** current **** **:

*. *** *********

*. *** ********

*. *** ************

** **** *****.....

** *** ****** ** unprecedented ***** ** * guess **’* **** *** unprecedented ******.

***** ** ** *** deeds *** *** *** words. ** *** **** Convergint *** *** **** both ********** ** ******* their ******** *****.

* **** *** ** see * ******* *** out * ***** ******* to ***** ************ ** let **** **** **** they **** ** **** in *** ******** ****.

*. *** *********

*. *** ********

***, ** *** **** #1 *** #*, #* loses **********, **?

********* *** *** ***** to ** ******* ** invaluable ******.- *** * agree, *** *** ***** to *** *** ******** block **** ******* *** cuts.

*** *********** ******* ** a ******** ****** ******* is **** ***'* *** shareholders *** ******** **** cost ******* ******** *** put **** ******.

****** **** **** ** mind **** *** *** laid *** *** * weeks **** ** **** that **** ****** *** has ****** * ******* pay ********.

*** *********** ******* ** a ******** ****** ******* is **** ***'* *** shareholders *** ******** **** cost ******* ******** *** put **** ******.

*****'* ** ******* ********* can ******* ** ****, no?

*** *** *** *** a ******* **** ******** not ******* * ******** - ** **** **** much ** **** ** that:

*. *******

*. *********

*. ****** *****

*. ********* *********

* **** **** *** employees

* ****** **** *****. It *** ** **** PC ** *** **** staff ***** - *** in ******* *** ****** first ******* *** **** long **** ********* *** your ***** ** ******** continued *****. ** ********* = ** *****.

***** ******* **** **** its *** **** ** the ********* ***** ** real *******. ***** **** to ** ******** ** understand *** ********* *** made *** ** ** consulted. **** *** *** like **** ** *** harder ********* - *** at *** *** ** the ***, ******* ****** large *** ***** **** want *** ******* ** survive, ***** ** ** everyone's **** ********. ************, like **** ** ****** them, *** ** ********* part ** * *******, so **** *** ************ too - ******* **** there ***** ** ** company. *** **** **** share *** **** ******* to ******* *** **** term ******** ** *** companies *** **'* **** assets.

*’* *** **** *** companies ** * **** of **** ****** **** put ************ ***** *** in *** ********* **** that ** ****** *********.

***** ********* **** ** looking ** *** ****** and ****** **** ****** of *** ********.

***** **** ******** ********* and ******* **** **** out ******** ********** ****** done *** ***** ***** by ********** ***** *********.

**** ******** *** *** all *** ********* ******** at *** *** ****** across *** ****** ******** globally.

* ******* ** **** come *** ** **** the ***** **** ****** and ******** - **** more ************* ********* **** security **** ** **** than * ****** ******** and *** **** * real ********** ** ******* those ***** ***** ******* out ***** ** *** frontline.

** ***** ******** ** can ************ ** ** help? *** ********, *’* aware ** ******** ** the ******** ************** ***** where *** ***** ******** utilize *********** **** *** now ********* *** ** lock **** ** *** health ******* ***’* ****.

***** ***** *** ******* choice ** *** **** interest ** *** ******* populace ***** ** ** send ********* **** *** 2 ***** *** **** them *** ** *** workplace ***** **** ***** potentially ********** ** *** further ****** ** *** virus. *** ****** ********* gets **** ** ***** feet *** ****** **** turns ****** *** ***.

** #**

* ***** ** * pipe *****. *** ** is **** *** ******* up **** *******. "******** as *****" ******** **** be **** ***, **** likely ****, ** ** keep *** ******** ******** (which ********** ******** *** an ***** ****).

*** ********, "***** *** large" ** *** ** will ** *********. *** Government ***'* **** *** everyone. ** **** **** back, ******* **** ******** and **** *********, *** I ***'* ****** *** nuances ** *** ******* side.

** **** ********!

*** *** ** *** logical ********. ** ***** account ******** *** ***** engaged **** *** ***** and ***** *** **** busy. *** ****** **** that, ** ** **** the ******* *** **** for * ********* *** cut - *** *** 30%, *** **% *** those ***** ***, **%. Commission *** ******* **** been ********* ************. *** heft ****** ******* **** cover *** ***** ******* who ****** ** **** pay. ********* *** ********* should **** ** *******.

* ***** ** ******** opting *** ******** ** place ** * *** cut (******** **'* **********). is ******** ************* **** commitment ** *** ******* - *** * ****** people **** ***** ** me *** ****** ****.

*** ** *** **** will **** *********** *** that **** ** ** the **** ** ***** who ******** ********* *** engaged - *** ***** returning ***** ** ******** break.

**% ** ******.

* ***** *** = not *******.

**** ***** **** **** for **% *** *********, release ***** **** ******* chose ** *** ****. Work **** ****** **** have ************ ** **** pay **** *** ** they ****** ***** ** not ***** ** ** real ** *** **** future.

*** ** * **** time ** **** *** a ***** **********, *** the *** **** **** their ******.

*** **** ****** *** time ** **** ****, JCI ** * *.*% wage *** *** **** be ************ **** ***** unemployment ************ + ** additional $*** *** **** per **** *** *** up ** ** *****. So *** *.*% *** is ****** **** **** <2%.

***** ** ** ***** UC ** **** **** taking * **% ****** cut *** ***** ** work *** **** ****** of *****!

** **** ****** ************ plan *********** ******** *** securing ** ******* wage ********* ***** ** a ******* ** **** forecast *** *** ******* for ******* **** *************? Instead ** ******** **** bennies *** ******* *****, instead *** ******** **** calculations ** ****** ************ that ******* ***** **** scenario ************ ************* ** sum ** * **** accurate ******** ****** ********. As *** **** ******** there ** ** ********* for ******** ***** ** be ***********.

***** **** ** ***** are ********** ** **** companies *** ********** *** return ** ***** ************ before ********** *** ********** of ***** *********.....*** *** true.

**** ***, ********* **** integrators **** ******* ***** people ** *** **** including *******.

*********** *** ****** **** first **** ******* ** determined ** *** ** making *** ****. ** most ***** *** ** not **** ** **** beyond *** ****** ****** at *** ***** ** directors *****. **** *** are ******** **** *************** from *** ** ****** that **** *** **** millions **** ***** *********. They *** ***** *** one *******, ** ******* the **********.

*** *** ** * 20% ****** *** *** reduce **** ***** ** 20%?

*** ***** *** **** you **** **** ** essentially *** *** *** weekly ******, *****?

** ****** ******* ** a *** **** **** all ****** ****** * big *******. *** *******, surely *** *** ****** working ** ****** **** R&D ********. ** ***** projects ********* ****** *** same, ***** ****** ****** continue ** **** **, without ************, ***** ***** are ******** *** * months, * ****, * years ****.

** ************* ** **** the ** ********** ** paying **% ** *** to ********** *********, ** to * *****, ** a *** ******** ** the ** ****** * weeks *** ****** ** still ******* **% ** their *** *** ***** government *******. ******* * US ******** ** **** not ******* ****. * could ** ******** *** that's ** *************. *'* not * ****** ******.

*** **’* *********** ******** scheme, ********* | ***** UK

***** *** ******* ***** Act, *** ******** ****** would **** ***** *** to ******* ************ *********** and *** $*** ******** per ****. ******** **** means *** ***** *** get ********** ********. **, it ***** *** ** being *** ****** ****** short ****. **** ******* have *** **** ** being ****** **** ** permanent.

**% *** *** **** not ********* ******'* *** moving ******* ** * also *** **** *** those **** ******* **** week. ** *** ****** hope **** ** ***** a ***** **** *-* month ***** ****** ** can *** ****** **** to ****. ** ** are ******* ** **** longer **** ****** **** of ****** ********'* *** and ****** ** **** likely ** ********. ** your ******* ** ***** nothing ** ***** ** cost ******** ****** *** have **** **** ******* (probably *******) ** **** Co. ** ******* **********.

***** **** ******** ***** spread ****** ** *** majority ** *********** ********* large *** *****. ***** will ** **** ***** companies **** ********* ********* that **** **** ****** income ***** ** ** even ******* ****** *********.

******** ******** ********* ****** unite ** * ***** tank ** ***** ********* that ******* *** ******* post *****-** ***** **** a *** ******** ******** industry ***** ** ***** the ***** ** ****. Manufacturers, ************, *********** ********* and **** **** ***** theory ********.

** *** *** ***** power ***** **, ***** ideas ** *** **** or ********. ***** *** is *** ******* **** for *** ******** ******* to *******, **** *** the ******** *** **** the *** ********** ***** for * *** ****** using **********. ** ** cannot ******* ********** ** aid ** **** ** are **** ** ********** as *** **** ********* in ***** *******, ********** or *********.

***** *** ******.

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