Honeywell Profit Up; Plans to Fire Workers

Honeywell International Inc. had third-quarter profit of $412 million because of cost cuts and said it plans to fire as many as 5,000 more workers as sales to factories and to plane makers drop.

Net income was 50 cents a share, contrasted with a net loss of $308 million, or 38 cents, a year earlier, the company said. Sales fell to $5.57 billion from $5.79 billion, led by a 7% drop from aerospace equipment.

Honeywell shares fell $1.01 to $21.33 on the NYSE.