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

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 said on Thursday it will split into three 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.