MORRIS TOWNSHIP, NJ — Reporting results for the first quarter that were down sharply from the year before, Honeywell announced that it plans to cut 6,500 jobs.
The company reported first-quarter earnings per share (EPS) of $0.05, including a one-time charge of $595 million for cost-reduction measures, which was a 92% decline from prior-year earnings. Excluding the one-time charge, EPS was $0.51. Analysts had been expecting earnings of $0.58 per share.