Topics regarding layoffs at Phillips 66

Topics regarding layoffs at Phillips 66

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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| 431 views | | 5 replies (last 2 days ago)
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 

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| 1427 views | | 27 replies (last 6 days ago)
Post ID:  @OP+1r68jFJB

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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| 1151 views | | 22 replies (last 6 days ago)
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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| 857 views | | 6 replies (last 12 days ago)
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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| 1057 views | | 14 replies (last 13 days ago)
Post ID:  @OP+1r1LrrWj

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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| 940 views | | 7 replies (last 3 days ago)
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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| 834 views | | 3 replies (last 13 days ago)
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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| 738 views | | no replies yet
Post ID:  @OP+1qShxaFu

P66

I just read a long article on Seeking Alpha. It basically said what a lot of people here have been saying about the CEO and that no-one believes P66 can reach the goals it has set for itself. It pretty much tore the ELT a new one. It says it will... —  read more 

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| 2134 views | | 14 replies (last 27 days ago)
Post ID:  @OP+1qJ6OvBJ

BT 4 bayway 0

One year since BT and 4 major incidents on the east coast. Anyone associated with McKinsey and these initiatives should be fired.

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| 849 views | | 1 reply (January 22)
Post ID:  @OP+1qEcj3TX

Goldman Sachs Conference

I just finished watching the webcast and reading the transcript of the Goldman Sachs Energy Conference that P66 participated in on Thursday the 4th. It seemed to me that the question/answer session was staged as if the P66 reps had been coached on... —  read more 

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| 1508 views | | 2 replies (last January 9)
Post ID:  @OP+1qsqbUB2

Margarita Machine's coming 2024!

I have it on good authority that Margarita Machine's will be installed at ALL office locations throughout the 1st Quarter of 2024! This is part of the 2024 capital budget and aims to increase productivity and employee confidence in the... —  read more 

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| 1620 views | | 7 replies (last January 11)
Post ID:  @OP+1qj70XVJ

Dysfunctional

In my job I interact with a number of groups. None of the groups are performing as well as they were pre Transformation. With that being said, Learning and Development is by far the poorest performing group I’ve encountered to date.

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| 1564 views | | 4 replies (last December 24)
Post ID:  @OP+1qcp2z0u

No Early Release in Bville

What a great way to help ki-l what little positive morale this place has. Not giving employees early release for Christmas due to “the holiday being on a Monday.” Not sure what Monday has to do with it, but I hope they know there will be zero work... —  read more 

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| 1574 views | | 11 replies (last December 25)
Post ID:  @OP+1qbu8Mzh

It’s Not BT

I’m sure many of you have noticed that our stock has been doing very well recently. This is due to a number reasons, chief among them is the sector as whole has been gaining and the announcement by Elliott of its interest in the company. One thing is... —  read more 

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| 1205 views | | 3 replies (last December 21)
Post ID:  @OP+1qaZajnZ

Just Think

Well, as we head into 2024, I can’t help but wonder what might have been if P66 had spent the last 2 years getting the refineries to run safely and reliably. That’s not to say we couldn’t have done a couple of things that came out of BT, most notably... —  read more 

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| 1267 views | | 3 replies (last December 20)
Post ID:  @OP+1q9A8C2f

Why Not?

The investors obviously have confidence that Elliot can do what they say they’re going to do as evidenced by PSX stock gaining ~10 dollars a share in just the last few days. So why fight them on this by hiring high priced advisors? Just give them... —  read more 

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| 2263 views | | 12 replies (last December 19)
Post ID:  @OP+1pSfG3uL

Sell Houston HQ

Move everyone back to Bartlesville and run the company with hard working folks. Sell the dump in Houston Drain the Swamp

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| 1849 views | | 11 replies (last 13 days ago)
Post ID:  @OP+1pRT9FAJ

Summary of resent employee survey?

Can anyone give some highlights of the most resent employee survey? What are employees’ concerns about the company? In the recent past it has all been about soft quality of work environment (flex time, working from home, pet insurance, L&D, etc)? —  read more 

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| 1221 views | | 2 replies (last November 30)
Post ID:  @OP+1pQfHIHE

P66 - Elliot Investment Management

There’s big news this morning regarding Elliot. This group has acquired 1 billion dollars worth of P66 stock and have written a letter to the Board of Directors demanding several changes to the way the company does business. The letter says much what... —  read more 

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| 2988 views | | 25 replies (last November 30)
Post ID:  @OP+1pPfZSY3

Borger Refinery

Does anyone else’s Team Lead keep checking up on union employees? Such as coming to make sure subordinates are not sitting down during a 12 hour shift. Finding frivolous tasks for them do in order to sure the company is getting their moneys worth. I... —  read more 

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| 1521 views | | 4 replies (last November 30)
Post ID:  @OP+1pEmm6EI

Fire Sale - Part 2

At a meeting the other day the Investor Relations guy said that as soon as it was announced that P66 wanted to sell 3 billion dollars worth of assets, his email “lighted up” with companies offering to buy anything P66 was selling. This is most likely... —  read more 

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| 1606 views | | 4 replies (last November 27)
Post ID:  @OP+1pDMVuIL

Red Flags

If you look at the bios of the ELT you’ll see that none of them are original Phillips Petroleum, Conoco, or ConocoPhillips officers. The CEO did start out with PPCO, but he was in CP Chem for a long time. They’ve all knocked around at different... —  read more 

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| 1686 views | | 6 replies (last December 12)
Post ID:  @OP+1pCQ4mSp

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