On February 6, Honeywell announced it would be splitting its operations in aerospace and home automation. It had previously indicated it would be spinning out its advanced materials business. The total split was prompted by an activist position taken by Elliott Investment Management in November of last year.

Honeywell employs 97,000 people worldwide, including 1,150 in Charlotte, Leopold said. Honeywell moved its global headquarters to Charlotte in 2018. It’s too soon to say how many employees will remain in Charlotte, Leopold said, but the restructuring is expected to create more jobs across all locations.

Honeywell International Inc. will spin off its aerospace division to create a new, standalone company that will be headquartered in Phoenix, company officials announced Thursday.

Honeywell will split into three separate businesses, starting with Advanced Materials in late 2025, followed by Honeywell Automation and Aerospace in late 2026.

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa.

Honeywell Aerospace Technologies will become a separate entity since Honeywell International plans to follow through with a major shake-up.

Honeywell, one of the last remaining American industrial giants, announced it will split into three companies Thursday after investor pressure.

Honeywell, one of Charlotte's largest employers, is separating into three companies that will allow each independent business to grow more within their sectors.