Thread regarding Phillips 66 layoffs

Toxicity & Budget Cuts

P66 has become toxic in a number of departments. There are other posts on here about politics and infighting, but that is just a symptom of what is going on.

The big issue are the budget cuts and restraints on hiring that some business units are going through. We are pushing for managed services, contractors, and other means to avoid hiring more employees or replacing those who have left due to attrition. You will continue to see employees bleed off due to the lousy moral this creates causing a feedback loop of more misery. We are losing good people in a number of areas, not scrubs who's work can be absorbed. This looks like it is completely by design. There appears to be a huge wave of retirements coming as well and do not look for any of those positions to be refilled with an FTE - head count reduction due to 10% or greater budget cuts means MSP's will be more leveraged than ever.

We are one of the top companies by revenue in Houston. We have recorded record profits in a number of quarters the past few years. Why are we cutting budgets? Why are we doing semi-forced staff reductions? What is the end game here - does anyone have any idea of what the desired outcome when this is finished? Why exactly is management fostering an environment of toxicity and misery?

https://www.bizjournals.com/houston/news/2019/12/17/phillips-66-eyes-billions-of-dollars-in-2020.html

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| 2851 views | | 6 replies (last January 15, 2020) | Reply
Post ID: @OP+12HU1A4w

6 replies (most recent on top)

Spending billions on new growth doesn’t signal to the market that they are looking to be purchased.

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Post ID: @kcgk+12HU1A4w

Or they may be positioning themselves for a buyout.

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Post ID: @ilrn+12HU1A4w

This place is getting disgusting!!! I wonder how many people are leaving on 2/28/2020???

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Post ID: @fshj+12HU1A4w

I'm glad someone else said it before I did. If they want to reduce headcount then DO IT. This creating a toxic work environment is k–ling us, we are losing good people who have options instead of the dead weight that won't leave unless you haul them to the curb. This is not healthy or good for the long term outlook of our company.

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Post ID: @cyws+12HU1A4w

The end game is higher dividends and higher executive compensation at any cost. If they were just trying to reduce headcount for a future downturn they’d offered severance packages. Forced attrition due to intentionally terrible working conditions is just based on greed.

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Post ID: @btmd+12HU1A4w

Management is preparing the company for an expected downturn in the economy. You could argue they learned from the mistakes of ConocoPhillips. When the oil price crashed ConocoPhillips was blindsided and still hasn't recovered. So the current changes at Phillips 66 are unpleasant but management no doubt expects them to position the company for future success.

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Post ID: @6pul+12HU1A4w

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