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History: rise of an industrial power In 1920, Colonel Sosthenes Behn founded the International Telephone and Telegraph Company. Early acquisitions configured the company as a research-driven producer of equipment for telephone and other communication technologies, a role boosted by the company's expansion during World War II. Following the war, ITT continued to grow into a variety of sectors including automotive, satellite communications, fluid technology, and even Sheraton Hotels (acquired in 1968). In 1979, the massive and wobbly conglomerate began shedding some of its far-flung subsidiaries, a process that culminated in 1995 with the break up of ITT into three separate, publicly-traded companies: ITT Industries, ITT Hartford Group, and ITT Destinations. The latter division, comprise of hospitality and information services, was sold to Starwood Hotels & Resort; ITT Hartford, an insurance subsidiary, became Hartford Financial Services. ITT Industries forged on, focusing on automotive equipment, defense systems, and fluid control products. Four key segments ITT divides its business into four areas: Connectors & Switches; Defense Products & Services; Pumps & Complementary Products; and Specialty Products. The company's largest segment is Pumps & Complementary Products, which holds 14 percent of the world market and racks in sales of over $2 billion annually. Notable pump brands include Flygt, Goulds, Bell & Gossett, A-C Pump, Lowara and Vogel. The next largest segment, generating 29% of the ITT's sales, is Defense Products & Services. The division operates in a wide variety of areas, notably air traffic control systems, jamming devices, night vision devices, and satellite instruments. Specialty Products, a division that earns ITT 19 percent of its sales, includes businesses producing tubing, switches, shock absorbers, and brake friction materials. Finally, the smallest segment is Connectors & Switches, which racks up 12 percent of the company's revenue. Through a series of recent acquisitions, ITT is now the world's largest manufacturer of switches. Formerly part of Defense Products & Services, Connectors & Switches features ITT products such as connectors, switches, and cabling for use in the telecommunications, computing, and aerospace industries. The incredible shrinking industrial conglomerate As indicated by its history, ITT has been slimming down since its days as a worldwide industrial mega-corp. In 1998, ITT continued to divest itself of key holdings in its automotive business. First, in June 1998, the company sold its electrical systems business to France's auto component giant Valeo SA. The deal, valued at $1.7 billion, boosted Valeo's sales by one third and meant the transfer of 13,000 employees in 12 sites. Next, ITT dumped its brake and chassis unit to Germany's Continental AG for $1.9 billion. Sales, however, haven't been the only tactic in ITT's diet regimen. Facing a $400 million charge in 4Q 1998 earnings, the company announced a restructuring plan that involved plant closings, the paring of product lines, and 1200 lay-offs. Building the ITT brand Despite its size, ITT hasn't exactly imprinted itself on the conscience of the American consumer. To change this situation, the company announced in September 1998 its plans to spend $16 million on an advertising campaign featuring the tagline "Engineering for Life." Designed to counter similar, brand-building moves by competitors Raytheon and United Technologies, the campaign will promote the ITT brand through broadcast, Internet, and print advertising.
The "careers" area of www.ittind.com provides links to job openings at various ITT Industries subsidiaries. Our contacts indicate that ITT actively seeks out referrals. Regarding the interview process, insiders report that candidates can expect several rounds of interviews, starting with a session with someone from human resources. Candidates will then meet with one or two managers, and four to five individuals from within the specific department. One source warns: "They will grill you on your knowledge," but adds that "not knowing something is not necessarily a bad thing." Another informant adds: "The interview process is designed to find out where you fit in." If additional rounds are necessary, ITT will pay for transportation to the site. To prepare for the interview, one contact who recalls being asked his "biggest weakness" advises job seekers: "If you have a chance to do some practice/mock interviews with your school advisors...by all means, gather those skills." A different insider reveals: "Be comfortable with presenting your skills and you should be fine with any interviews." Those applicants coming straight from school be able to describe "classes taken and [key] areas of interest."
Love that 40 hour work week While ITT Industries has narrowed its focus since 1995, it remains a sprawling entity in terms of geography and business. Accordingly, our contacts consistently remind us that life will vary according to division. Nevertheless, similarities emerge, and perhaps the most striking is the near uniform responses regarding hours. "Work hours are normal (40 hr/week)," says one. Another specifies that "the standard working hours are 7:30 to 4:15, with a 45 minute lunch break. However, you could reasonably modify these hours by an agreement with your boss." A contact in Aerospace notes: "We have flex hours: you can start between around 7 to 8:30 and work until you put in your 8 hours. Although you get 45 minutes for lunch, everyone takes an hour." A more conscientious informant notes that she puts in "overtime when required." Several insiders in Information Technologies report working "at least 50 hours a week." On the casual side Another consistent feature of ITT life seems to be casual dress. "Dress is 'business casual' every day unless we meet with the customer," says one. Another specifies: "The dress is pretty casual. Jeans and slacks are fine, but shorts aren't allowed, nor tank tops." Challenging work environment The mellow hours and casual dress described by our contacts, however, do not mean that working at ITT is pressure-free. One insider describes two forms of pressure: "normal and political." She goes on to explain that "normal stress" results from "trying to service your customers in a timely fashion and trying to complete scheduled projects. Political stress is usually dealt with by managers. However, it has a tendency to trickle down. Mostly, it's about control issues. The Dilbert comic strip is actually pretty accurate." Another ITT contact offers reasons for the challenging atmosphere: "Each ITT company has its own 'flavor,' but the underlying constant is that each company has to make money and operate in a sound and fiscally conservative fashion. ITT is serious about guarding and increasing stockholder equity." Average pay, solid benefits Salaries at ITT don't seem to garner much praise. One source in Aerospace complains that pay is lower relative to competitors'. Another informant from Defense comments: "I do not know exactly how competitive it is, but it seems to be okay. College grads get an entry level of about$40k/yr." ITT's benefits, however, pick up the slack that unsatisfactory salaries leave behind. One contact glows: "We have an excellent 401(k) program, good insurance, an excellent retirement plan, and plenty of holidays and vacation." Another isn't quite so pleased: "Now new hires get more paid days off," he notes, "but the retirement benefits are less." Positive perceptions of diversity Our ITT contacts generally give the organization good marks for diversity. One notes: "As far as minorities are concerned, we are quite ethnically diverse and [everyone is] treated equally." The same contact qualifies that women "tend to lean towards the software engineering area here." Another informant notes: "There are not a lot of women at high levels, but this is generally changing."
Human Resources
Connectors & Switches; Defense Products & Services; Pumps & Complementary Products;Specialty Products
Mannesmann AG;Raytheon;Siemens;United Technologies More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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