VCIP invite included ominous phrase "discuss upcoming changes to VCIP" Doesn't look good. Any ideas on what's brewing?

I heard they quietly decreased the percentage of 1's and 2's as part of the transformation. Does anyone know if there is truth to that?

Experienced hire last year. SGL 16. Above 110%. Rating 3. What will be the merit increase? 1%? Seems I am hosed due to where I am in the pay band. Any thoughts?

2 of my friends left this week. They didn’t even wait for VCIP.

What kind or early retirement package has Philips 66 offered to those willing to leave early?

lol

What's your prediction as it relates to the possiblity of Phillips 66 layoffs? Any chatter, news or rumors?

Why have postings been so skimpy lately?

Just curious if anyone has any stories of employees who left in Houston and found higher paying salaries inside/outside the industry in Houston?

Any news from the Town Hall today?

What are your thoughts on the global Town Hall that took place today?

They said at the Town Hall today that Transformation is reason PSX stock is doing so well lately and that the Investors Meeting last week went swimmingly.

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