Thread regarding Phillips 66 layoffs

Looks like the safety net is 18. RLT level right?

Cheeto deeze nutz 🥜

I read that Mr cheetoh at the tool trailer has his opinion of who to work for.

Worked for Chavez and St-lin

It’s like ratings socialism lol

18’s and up be steeling from the poor and giving to the rich. Wtf

This should definetly improve moral and increase the disparity.

I personally thought it was off that the 18 and above still get their RSU awards even if they are under performing.

What it looks like someone who would have been a 2 in recent years:

• If you’re a High in the new scheme you get 2-3% RSUs instead of the 15% you got before
• If you’re an Exemplary, which is less likely, what % of pay will the RSUs be?

Overall the change is the usual. Cut overall benefits so more can be distributed to the top of the food chain.

Sir, yes sir mr gogo.

Count your blessings that you have a job.
Could be in government and President Musk would let you go! Stop whining and do some work.

Rsu’s wont even cover YoY inflation. McKinsey Enron tactics. Run

Werewolf

Weird - comment went to wrong post

Save the cash for the ELT and the a$$ kissers - give everyone else declining stock - sounds about right

Good question about the vesting. FAQs says, “2 year cliff,” so I’m taking that to mean there’s no pro-ration at year 1. But a 2-3% award is pretty slim, especially after they take out shares for taxes, so not sure that’s going to drive retention.

Based on the faq, sounds like Vesting is 2 year cliff. No more partial vestings. So that's a bummer.

Good question about the vesting. They just said, “2 years” in the meeting I was in. I’m sure documentation will be coming out soon enough, if it’s not available already. But a 2-3% award? That’s peanuts.

Since volumes are suucking and psx is unattractive……..guess elt is just giving away stock to make it look like someone is buying?

I don’t hate the changes. What is there today isn’t work and hurts morale so maybe this will be better!

Is it 2 years to vest or does 50% of the rsu award vest each year?

I see it as a good change for those "never 1 or 2s" but bad for those "never 1s, often 2s".

As usual, the lower grades get nothing - no RSUs awarded to those grade 12 and below in the "high performing" bucket.