IT, Finance and Commercial are expected to layoff ~300 people in 2 waves starting with IT in early Q3 2025. A majority of operational support for IT will be moved to outsourced providers. Major IT restructuring will be done using the “spans and layers” concept suggested by BCG to reduce management layers.
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@81e Me. You. Most of export PE. Couple of dudes in logistics.
@815 who is next?
@815 Like a terrible game of Russian roulette.
@80y layoffs on fridays.
So what’s the latest scoop? What happens this Friday?
https://youtube.com/@chevronphillips?si=DscZGk_qyAZ9H11J
If you have not moved your pension out of CPChem’s control, you might want to consider it. I don’t know if the plan is covered by PBGC insurance, but if the plan becomes insolvent or terminated in the face of financial hardship, your benefits will be greatly reduced, particularly if you are a long-term employee. PBGC insurance has limits as to what they cover. You have a lot to lose, don’t let them take anything else from you! Most companies don’t have pension plans anymore, it wouldn’t surprise me if CPChem does away with theirs next.
@7kf payroll deduct.
Anyone know what our EIP will be?
@7hw post it up.
@78c yes, if you’re in a support role or in a cost center, they will be dramatically reduced. It will happen in September and October.
@7j0 I'll take mine to Goodwill, too. I was thinking like I still worked there trying to protect them from misuse of their brand. Hahaha.
@7hh I have not received a box either or my personal items from my desk. It’s the CPChem way though. They have a great idea but execute it very poorly. How hard is to send out 130 boxes? How hard is to pack up personal belongings for 130 people. You knew this was happening and the people affected.
@7hs I donated all CPChem items to goodwill or threw them away.
We had previously warned HR and some Executive Vice Presidents (EVPs) about recklessness within the IT department and other departments, but no action was taken.
They have hired underqualified individuals for years who have made poor decisions, and now everyone is suffering the consequences.
We have proof that HR and the EVPs were aware of the problem.
Specifically, we have emails from July 19th of last year that shows an IT position with a pay grade of 87 did not even require a high school diploma!
We believe that everyone who is not being laid off should have to reapply for their job with proper qualifications!
This would also eliminate nepotism and the "buddy system".
We would like a link to upload the emails or a picture of them as proof.
To A m er, B et h, Ma rc, and others, please check your emails from last year.
@7hh Me neither on the laptop boxes. What do we do with our branded FREs? We shouldn't give them to Goodwill, but I don't want anything that says CPChem on it in my house.
Has any of the laid off people received a box to mail back their laptop and phone yet? It's been a week and still nothing.
@7f9…exactly, because as long as we’re fighting each other, then we can’t fight them and that’s what they want!
@7f9 correct. The blame is poor management and overspending. They knew last year they were in trouble and who they were going to cut. 2 more rounds.
@7f8 That’s cute but ROCE isn’t even the longest pole in the tent
@7b7 I think everyone here is forgetting who the actual problem is. It doesn’t surprise me to see everyone blame each other. That’s what upper management would’ve wanted. It’s the culture they created.
@7ej Spec Chem always has a better ROCE than PE
@7e2 Spare me the “high margin” bs. A $4/lb margin on 10,000 lbs per year is within the margin of error for PE. Go drop some pennies on the front step of the new HQ and tell me how you saved the company.
Any of the laid off people want to meet up this weekend to network and talk strategy? We’re in this together!
@7e7 high level feedback is you are sc--wed. We are protecting ourselves and our chronies.
@7e3 Correct me if I’m wrong, but isn’t Spec Chem on target to make more money than PE this year?
@7e3 Isn’t kind of freeing to have these discussions without fear of reprimand or limiting your career progression? Take note Pru Sak
@7e1 Here's what AI says about why you should have a lawyer review your severance paperwork and this is true:
Avoid signing away rights: Especially if you’re giving up the ability to sue or compete.
Negotiate better terms: Lawyers often uncover leverage points you didn’t know you had.
Protect future opportunities: Restrictive clauses can quietly sabotage your next chapter.
Don't be too trusting about what CPC will do if they think they can get away with it. It's insidious, all the time we spend celebrating our warm and fuzzy culture. I get su-ked into that sh*t because I'm naively sincere and a huge people person -- I love that sense of community, being true friends with my team, and everyone from the CEO on down pulling on the same side of the rope. "We're all in this together" has taken on a new meaning for me. CPC is just ugly base metal. They painted on the silver and gold -- remember the HQ ribbon cutting, the lofty speechifying, and the extravagant food? -- and we oooh and ahhh all the way out the door. It's all just manipulation. Maybe I'll learn.
@7dc any high level feedback?
@7e0 I’m triggered? I’m not the one ranting and cursing on an anonymous forum. You, like all the other self important people in Borger, are too d-mb to realize that CPChem only kept you because no one else wanted you and it wasn’t really hurting anyone while the company was doing well. The game has changed, the cards are stacked differently. The company is not doing well. They are canceling small dollar projects to expand capacity in profitable business lines … because they are broke. They’re getting rid of the Borger trucking fleet which negates any “competitive advantage” you had to justify the higher prices you charge for your one profitable product. They will chip away at you piece by piece just like they’ve been doing for years. Dwindling your special portfolio down to commodities that, with your cost structure, cannot be competitive. Instead of arguing with me, you should probably look for a job.
@7dm Thanks for giving us a lesson on revenue vs contribution margin (that’s sarcasm in case you don’t recognize it). But you’re wrong on so many levels. You are a pompous a-s that clearly doesn’t know what the other business lines are contributing. Obviously a pellet head who thinks only PE keeps the company afloat. Might want to take a look at what petchem contributes vs PE, you will be humbled. We are not solely a PE company contrary to your belief. I agree with previous commenter, go back to plant and just make pellets as you clearly don’t understand chain margin or contribution margin from other SBU’s
@7dc Would you care to share anything we should be looking for with the package? Thanks
@7dm You seem a bit triggered! You ok? Is it because you’re a ChemE that got an MBA and now think you know everything about business, yet you don’t? Look at the financials, Spec Chem is contributing much more than your purported $2MM. You are right on one thing, they do handle hazmat materials, but so what??? Should we as a company just produce only products that are easy, like PE. We’re a CHEMICAL company! PE thinks their sh-t don’t stink but are probably the most dysfunctional group in the whole company. You decided to build two more units in a down market and then state “oh sorry we didn’t anticipate the down market being this bad”. What the fu-k! You couldn’t see that India and china’s middle class was stagnant? Those are the people that should be on the street. Go back to the plant and make pellets like you were trained to do. Two years of business school can’t make up for being a d-mb a-s. People like you got us in this whole situation we’re in that we have to walk subject matter experts out the door but let people like you stay.
@7d0 Revenue is an not what you what you contributed to the bottom line. Spending $50MM+ to make $2M, which where Borger is, has always been a bad business model. Couple that with the risk that Borger presents to the company with the toxic products you handle, I guess you’re lucky that the business engineers are not that great. But we have tried to sell you before… writing is on the wall. Good luck to you!
@OP On another note to all my fellow recent discardees -- I had a lawyer review my severance paper work. I hope you do, too, if you haven't already. iCare my happy a**.
@7ac if had any brains, the company would have kept you.
Pellet Head fears no one! Bow down and kiss my glossy white head!!!
@7d0 Spec Chem meaning mostly Belgium. Borger has been a drag on Spec Chem from the beginning. The costs are too high, manufacturing is too unreliable, and management capability and knowledge has declined to a point where it’s probably unredeemable. Look at why the Spec Chem ROCE is in the teens while Belgium itself averages in the 30s. Congrats, you’re dragging the whole business unit down.
@7d0 You seem to have missed the core business of CPChem. The other product lines are allowed to hang around when PE assets are experiencing lower demand to help fill the gap. Never once have they filled a gap completely, only helped a little. They’re allowed to hang around as long as they don’t cause trouble, but Borger has been a problem and continues to get worse from a volume and environmental performance perspective, and let us not forget that one of the smallest plants leads the company in hotline calls, so obviously the people are horrid too. Nothing salvageable there, time to move on.