Pros
Still have some of the best benefits in the industry (although they are steadily eroding). Full pension (although the medical supplement for retirees was recently dropped), 100% 401K match up to 4% of salary (just reduced from 8%...hopefully temporary but they're not saying, decent vacation accrual and good medical/dental/vision. It is very easy to cross divisions and product lines if you want to expand your career choices. The new Honeywell has brought some much needed discipline to some of the practices of the old Honeywell, but at a price far in excess of the benefit.
Cons
That family feel is gone..., what was once a large company with a small company feel is now a bloated bureaucracy mired in "process" and unable to react nimbly and effectively to changing conditions..., with the exception of reducing budget. The next quarter bottom line is obviously King here now, at the expense of customer satisfacion, general business ethics and certainly the emplyee. We've pretty much alienated every major customer we have through late deliveries, poor quality product releases and refusal to fix product and promised functionality to meet original commitments. Engineering has lost most if not all of their momentum budgets so funding to address issues or opportunities that crop up unexpectedly is doled out scrouge-like if at all. Hiring to meet only committed projects makes accomplishing off plan efforts that ARE funded dicey at best. Loss of production resources, software engineering and increasingly systems engineering is pointing to a company goal focused on managing products rather than engineering products. Very little new development engineering on the horizon.