Topics regarding layoffs at Phillips 66

Topics regarding layoffs at Phillips 66

They Say

P66 says that petrochemicals are where the growth will be in future. And maybe it will be. But P66 also said that BT was going to do magical things for the stock and make P66 an even better place to work. Neither of those things have happened... —  read more 

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 

You Could Have Fooled Me

P66 said on the earnings call last Friday that the employees are “fully embracing BT”. I guess that’s what they get told when they visit the various field locations, but it’s as far from what I’ve seen as you can get. I know a couple of BT Champions... —  read more 

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 

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 

Learning Day

If you haven’t read the story about Learning and Development, save yourself a few minutes and don’t bother. Nothing in it bears any resemblance to the way things really are in that group. Training was barely adequate before BT and now it has to be... —  read more 

The Borger Refinery

I’m hearing through the company grapevine that there was a large hydrocarbon spill overnight at the Borger Refinery overnight. Maybe if the company focused on running reliably instead of laying off people, this wouldn’t happen.

It Goes Both Ways

I’m often asked “why are you so down on the company”,you had a lot of good years with it? I’m reminded of an old saying. It was said that you can have 100 “atta boys” but 1 “eff up” will cancel them out. That’s the way I feel about the company now... —  read more 

Emerging Energy

This is your periodic reminder that Emerging Energy has gone absolutely nowhere in 2 years and is going absolutely nowhere. This is supposed to be 2 billion dollar a year business.

Global Clown Hall

Fresh off a super inspiring update and marketing video, I feel more transformed than ever! As it turns out, if you put your three business units in the shape of a red triangle on a PowerPoint slide, you now have a strategy. I’m going to tell my... —  read more 

Sucess Share no more

Success share program discountinued for 2024. But hey, if you are rated 1 or 2, your individual performance adjustment for VCIP increases. Maybe that will make up for "market rate base salary" and the loss of the "success share". Will there be... —  read more 

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A county judge has shutdown the Rodeo Renewable Diesel Project pending more environmental studies. The judge also stopped construction while the study is ongoing. While it is certain to be appealed, this is a real setback to the project. So the one... —  read more 

McKinsey & Co

Like him or not, John Oliver (HBO) presents a an eyeopener of a segment on McKinsey & Co. These “consultants” are the people P66 spent millions of $$$ on to advise them on “improving” the business. No surprise the results are what they are. Take a... —  read more 

Where Credit is Due

There has been a lot of criticism directed at the CEO, ELT, different VPs and the Business Transformation program. That criticism is richly deserved and if anything doesn’t go far enough. One notable exception to this is the Benefits Center! When I... —  read more 

Wage Disparity

Isn’t it amazing that we have several members of the ELT making 10s of millions of dollars per year, that UPS workers got almost a 40% pay raise recently, and it looks like auto workers will get at least a 30% pay raise if not more, yet most of our... —  read more 

More Proof

The price differential between P66 and our peers is widening. Valero is now ~$20 higher than PSX and Marathon is now ~$32 higher than PSX. This is even more proof that BT is an epic failure. Not that any additional proof was needed. Everyone but the... —  read more 

What’s Next

It seems to me that the CEO has just about run out of things to try get our stock price closer to that of our peers and nothing has worked. Although they’re a good thing, the employee initiatives has saved nowhere near as much money as... —  read more 

Stock Sale

I read a report that says the CFO of P66 recently sold ~30,000 shares of the company. Why would he do this if he believes that business transformation is going drive the stock price much higher? Maybe he wants to buy or build a new house in Spain.

Stony Island

As a cost cutting measure, it appears P66 has been shedding its most valuable asset, its loyal employees. Yet after the McKenzie sla-ghterhouse, and now a new consultant to review the old consultant, it seems the company is still funding Stony Island... —  read more 

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