From the investor call: Mark Lashier: "We're constantly looking at what refining assets belong in our portfolio long term and what is the best way to deal with those that maybe aren't having a long-term future. And you've seen us exit Alliance. It... — read more 

https://www.reuters.com/business/energy/phillips-66-plans-lay-off-1100-workers-by-end-2022-2022-11-09/

HOUSTON – ConocoPhillips (NYSE: COP) today reported third-quarter 2022 earnings of $4.5 billion Phillips 66 (PSX) on Tuesday reported third-quarter earnings of $5.39 billion. Two companies with multi-billion dollar earnings, and they still can't... — read more 

will there still be layoffs in 2023?

Any thoughts on what's the least problematic O&G company? I know all have some of the same issues that we do due to the cyclic nature of our business, but I'm talking about things that are independent of that, like how they treat employees, how... — read more 

It seems we’re moving so fast on Transformation that nobody seems to really know what changes are going to work and which aren’t. We’re just flying by the seat of our pants.

And never ascribe to malice that which may be adequately explained by stupidity

I just watched a video that said that Transformation was going to last through 2024. That means it’s going to collapse in on itself probably sometime next year. By then everybody will realize that it’s failed and it’ll all be swept under the rug... — read more 

If our leadership does not realize how much of a loss it is to train young engineers and then very easily let them go to the competition after that, then that's a very bad sign. And that is exactly what is happening. They don't seem to care at all?... — read more 

FYI, the Q&A link works outside the intranet if anyone is concerned for anonymity.

This is the day p66 leadership meets with investors in New York. It’ll be interesting what claims the make to them about how wonderful transformation is.

The more I learn about Transformation, the more convinced that it’s going to fail. Rather than stream lining things it appears to have created a bunch of little reporting groups. Way too many moving parts to ever be successful.

I just watched the video about earnings that the president of the company issued. He makes me sick. He’d gag a maggot.

She and her cronies created a mess of the ‘cloud transformation’ project and could not show the so called synergies she promised. Then brought In McKinsey to lay off people (which they are famous for anyway) and now moved on to head the alternate... — read more 

We have a town hall this week. Here’s what’s going to said: The company is doing great, the refinery is doing great and has some wonderful projects coming and has a great future. And lastly, Malformation was unfortunate but totally necessary and will... — read more 

Has anyone else noticed that even after the company lays off over 200+ people they continue to post jobs that perhaps some of those who lost their jobs could have been repurposed for? Also, why does HR continue to grow the recruiting team????? If we... — read more 

Was there some event that precipitated or preceded P66 calling in the McKinsey Group? Were 2nd quarter earnings not high enough? And for anyone who has not read the Atlantic article on the McKinsey Group, I find it interesting that the current... — read more 

If before I hesitated whether to leave or stay here for a while, now I no longer have any dilemma. The company did a great job to further demoralize the employees. /sarc. After all this, who still wants to stay here? I doubt there are many who do. — read more 

Is that role not needed anymore? Low performers? Political?

Executive level layoffs were completed by the end of September. Wave two included general pop is what you just saw. All 2022 layoffs were to be completed on October 25 or October 26th at the latest. This includes individuals on leave or vacation... — read more 

Now that the layoffs are over for now and it’s so close to end of the year, the rate of attrition will really slow down until the VCIP announcement. After that I look for the rate to skyrocket.

https://www.reuters.com/business/energy/refiner-phillips-66-cutting-staff-refineries-terminals-offices-sources-2022-10-26/

I'm not sure my nerves can take it if that's what's happening here.

Well, what’s the severance package looking like?

I have not heard the totals but as expected the last Tuesday of the month to provide the hr admins time to process the paper work without any overtime pay, in time to ensure no insurance payments would be made in November. Good strategy for head... — read more 

Some staff people are being layed off here at Wood River. Many migrating to the mothership in Houston. Many getting rerouted to the turnaround group.

... which is probably a higher percentage than formal communications. Research shows that grapevine information tends to be about 75% to 90% accurate. Since many rumors start from someone's account of an actual event, there are usually strong... — read more 

There are multiple threads with active comments, so trying to consolidate into one thread. Have you heard of any layoffs in your office this week? There have been reports of additional security and people being called to rooms in Houston on the... — read more 

You would think that something that the SEC regulates would be a bigger secret than a damn org chart… yet 1/2 of midstream knew the details down to the equity swap of DCP… and no one has leaked an org chart yet. Sounds like friends are taking care... — read more 

I found out that certain members of the Borger RLT get upset when they hear the terms malformation and energy inaction and we wouldn’t want that so we should not use malformation or energy inaction because it might cause their blood pressure to sky... — read more 

Yep

I’m very disappointed this morning. I expected much more P66 bashing that what I‘be seen so far. I know you can do better!!!

What a stinking joke!!!

All the best for all of us this week!

Looking back it’s pretty obvious when this once great company began its downward spiral to get to what it is today. It’s when it quit promoting from within a started hiring outsiders to fill the ELT.

Rumor has it that the HR manager was fired on Friday the 21st. Other HR personnel have jumped ship and are rumored to be leaving as well. Maintenance department is severely top heavy, I can see alot of changes coming there as well. There are several... — read more 

I don’t understand why they haven’t allowed expressions of interest. If they had done that the people that wanted to leave and the people that wanted to stay could stay. Win/Win situation. And they would exceeded their head count reduction target... — read more 

I've tried applying for new jobs, but few companies are truly hiring right now. It doesn't help that most of my skills are the type that is O&G specific and are not transferable outside the industry. I know there's attrition happening but I can't... — read more 

I can’t wait for karma to kick in on our elt and most of all on McKinsey for all the needless and useless pain they’re causing very good people to live through. It’s sometimes slow but when it finally comes, it usually paid back in spades. — read more 

If you don’t want to be on the top of the layoff stack, you need to donate to United Way. The company is harping on this for a reason! Someone in HR has told me that they keep track of every employee that has and has not donated to them. Think it’s a... — read more