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—the massive industrial conglomerate that builds avionics, propulsion, navigation, and other systems for aircraft, rotorcraft, and spacecraft—is splitting its aerospace business into a separate company.

Honeywell said on Thursday it will separate its aerospace and automation segments into independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.

An activist investor's dream scenario has come to fruition with Honeywell's decision to break up the company. Here's how it will affect workers in Phoenix.