Topics regarding layoffs at Phillips 66

Topics regarding layoffs at Phillips 66

JET Sale

any insights on the recently announced sale of JET retail in Germany and Austria? versus the noncore assets in US

THIS CIO

Has a long history of abusing people, especially women, who are believed to be beneath him. He is surrounding himself with people "like him" to keep the "culture" he's used to. One of his reports spoke horrifically to a female in front of leadership... — read more 

Missed Estimates

P66 missed the 2024 earnings estimate. The analyst weren’t expecting much, we couldn’t even make that. The CEO was long on excuses but short on any viable actions he plans on making to rectify the situation. To the ELT: those footsteps you hear... — read more 

Non-core Assets Sale

At the last earnings call, the CEO said that he would probably be talking about the asset sales at the next earnings call. He’s going to have to hurry if that’s going to happen by tomorrow morning. It seems to me to be just another BT failure... — read more 

HR gets rid of P66 Dependent Scholarship

Just heard we are getting rid of the P66 Dependent Scholarship program. Why we continue to spend so much time and resources into MyRoute and meanwhile cut meaningful programs is baffling.

Emerging Energy

After more than 2 years of BT, Emerging Energy is still no closer to being a $2 billion dollar business that it was on day How long are they going to let this farce continue? Oh yeah, L and D is still a punchline.

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| 540 views | | no replies yet
Post ID: @OP+1scGtRcB

Wonderful BT

Wonderful BT is not going very well at all in my little area, how is it going in the different groups across the company?

Why so Late?

The company is forming a Margin Capture Group, which is a good thing. A lot of money can be made by getting molecules in the right place. This should have been one of the first things that happened two years ago when BT was first rolled out instead... — read more 

New dr-g testing policy

Anybody get any info on the new dr-g testing policy? Many states are removing mari--ana from random panels for safety sensitive employees? However testing for mari--ana will still happen after an accident or from reasonable suspicion? To go along... — read more 

Not the Same Person?

It appears to me that the CEO is not the same person he was 2 years ago. He doesn’t seem near as outgoing or as jovial as he did back then. Granted, I only see him on videos or town halls. I wonder if the pressure is getting to him?

Disappointed

I’m disappointed that Elliott has accepted the performance goals of Phillips 66. They say meaningful progress has been made toward meeting the stated goals. I was hoping for a proxy fight but what can you do?

2024 Layoffs

It’s official. More layoffs this summer. If everything goes right it’ll be mid-June/July. Apparently there are a few groups/areas that are off the table for this round. Stay tuned and I’ll try to keep you updated.

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| 3540 views | | 24 replies (last April 8, 2024)
Post ID: @OP+1rEisznY

Our Peers

One our primary peers stock price is $13 above our stock price and the other one is a full $40 higher. $40!!! And the only reason our stock is not even lower is because Elliott is still around, we just haven’t heard much out of them lately. So much... — read more 

PRC…. ERI

What about the recent visit from Michelin to the research center? Anyone thinking that’s an asset we’re selling? Go BT!

How Long?

The Borger Refinery has barely run at all and has missed out on a lot of great margins in the last 2 to 2.5 years. In addition, morale across most groups is at rock bottom. How long is the company going to stick with the current leadership hoping... — read more 

Oatmeal

Our CEO said in an interview that he makes the best oatmeal on the planet. That's right, with everything going in the world and the company, that's all he could find to talk about. No wonder P66 is a dumpster fire right now!!

Fire at the Borger Refinery

There was a large but short lived fire at the Johnson Tank Farm area of the Borger Refinery today. Thankfully no injuries reported.

Boa Refining Conference

3 takeaways from the conference yesterday: It was established early on that “the Elliott situation” wouldn’t be discussed. The Refining VP stated that the employees are now fully embracing BT where before they didn’t because they didn’t... — read more 

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Post ID: @OP+1ryk8Duy

Non-Core Asset News?

A little surprised we still haven't seen anything from these non core asset sales. I guess the initial announcement wasn't because we already were working with a buyer and close to a sale, but rather it was an announcement to see if any buyers are... — read more 

Garland Leaving

Greg Garland is leaving his position as Executive Chairman of the Board ahead of the Annual Meeting on May 15th. This seems sudden, has anyone heard any reasons behind his departure? Was he ousted?

Consultants

So we’re done with McKinsey, but now we’re bringing in BCG? Spending billions on McK wasn’t enough?! Get these people outta here

A Friendly Publication

Have you noticed when the CEO wants to put out some small amount of wisdom or information, it’s always through the Business Journal of Houston?’

Let the Exodus Begin

How many do you know? I know four high caliber, quality team members who have taken their VCIP and run for the exit. Such a shame what the ELT has done to this once great company.

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| 1520 views | | 5 replies (last April 11, 2024)
Post ID: @OP+1rh37yHI

FYI

I retired during 2023. When I left the policy was that if you retired or were laid off, you were eligible for the percentage of VCIP for the percentage of the year you worked. I guess that changed after I left because I didn’t get VCIP this year. So... — read more 

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| 1270 views | | 5 replies (last February 24, 2024)
Post ID: @OP+1reKs3zt

Are You Satisfied With Your VCIP?

For me and several colleagues, the consensus was disappointment. Last year the company implied that changes were being made so high performers would receive greater VCIP and stock awards than in the past. We hoped these changes would overcome the... — read more 

VCIP Townhall Bingo Card

Time for some fun. Provide an entry for the townhall bingo card of what buzz words or phrases that will be said. I’ll start… “CPChem is our greatest asset.”

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| 1850 views | | 22 replies (last February 20, 2024)
Post ID: @OP+1r4tRcvB

Elliot pt. II

Elliot has gotten its way concerning the board of directors! P66 has appointed 1 new director with another to come. This has to be a bitter pill to swallow for P66 but it was either cave now or face a proxy battle it was sure to lose. In addition... — read more 

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| 1230 views | | 6 replies (last February 14, 2024)
Post ID: @OP+1r3k9Pqa

Do you want a litmus test for Management?

With all that we employees have endured - the constant cuts, constant loss of capacity, constant “transformation” and now outsourcing and the degradation of all of our systems and data….if you want a litmus test for the sincerity and the commitment... — read more 

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| 1610 views | | 14 replies (last February 13, 2024)
Post ID: @OP+1r1LrrWj

Billings

What’s going on in Billings?

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| 1210 views | | 6 replies (last February 11, 2024)
Post ID: @OP+1qZKwgn3

Clarity

Our CEO sat for an interview with Business Journal and offered clarity on which assets are in talks to be sold this year. Has anyone read this article or has anything been said at work?

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| 1290 views | | 7 replies (last February 23, 2024)
Post ID: @OP+1qYBeeDZ

Elliott

We haven't heard anything out of them for a while, but Elliott is still out there making their plans. It should be a lot of fun to watch our ELT squirm when they make their next move.

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| 1020 views | | 3 replies (last February 13, 2024)
Post ID: @OP+1qSYIpk9

Hiring McKinsey as bullies

Why are executives letting BU leaders say I want the freedom to do whatever I want but company policies prevent me from doing it so I am going to hire McKinsey to tell people that I am right and all these other people who are paid to safeguard the... — read more 

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