Thread regarding Phillips 66 layoffs

Consolidation, EOI, layoffs

Most likely outcome: consolidate similar functions, and then solicit EOI due to redundancy. Finally a layoff to reach the reduction goal.
IT’s attrition is better than expected lately, likely most people are waiting for EOI. The market could not be better for IT folks. P66 has a huge contribution to the industry by training so many skilled IT individual contributors for free. Well done.

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Post ID: @OP+1gwqM0IC

3 replies (most recent on top)

No EOI will be offered. Its been confirmed by the ELT.

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Post ID: @1Jime+1gwqM0IC

My advice, for what it's worth

Don't always wait on potential enhanced severance pay while housing prices are high. Take the gain on your house. The gain is not subject to federal income tax, nor FICA tax, but severance pay is.

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Post ID: @1wcyy+1gwqM0IC

P66 gets rid of older employees because they cost more. But if you bring in greener employees, the cost of doing business just increases under a different line item. But hey, whatever gives the “appearance” of greater shareholder value.

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Post ID: @1dla+1gwqM0IC

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