Pros

Discounts on phones services.
Reasonable benefits although they are getting worse.
Good coworkers who are committed to doing whats right.

Cons

Centralized decision making - not giving business units the authority and responsibility for their own success.

Too much focus on moving jobs to "emerging regions".. This translates to little job security or future if you are a US citizen. The company has growth by aquisition - and forces newly aquired copanies to follow the Honeywell processes and procedures. This may not make sense to do everything the Honeywell "way" but local managers are not allowed to deviate.

The company is highly "siloed" with different support groups (e.g. purchasing, technology, manufacturing, sales, etc) having often different and incompatable metrics to meet. Looking out for the customer seems secondary to meeting your metrics. This is particularly true with global sourcing. Constant push to supplier prices, get better payment terms, etc follows the model used by automotive companies (e.g. GM, Chyrsler). Not a good example to follow for long term success..

Advice to Senior Management

Don't try to force one set of operating principles across such a diverse set of assets. Operating practices which work for a high volume product business do not necessarily work in service parts of the business.
Increase focus on the customer not on internal processes.
Empower local management to do whats necessary to run the business. Have less centralized control.
Lead by example - having a CEO who flys the company jet on personal business is absurd when employees are faced to take pay and benefit cuts. Compounding this excessive and totally unnecessary perk - the CEO has his taxes "grossed up" so there is no cost to him personaly. Hard to believe when your compensation package is over $30Million in one year.