What was the outcome of fuel and lubes merger?
Unprecedented act of retrenchment of 300 workers, implementation of mandatory pip of 8-10%, elimination of club membership and interest free car loan, downgrade of medical benefit etc.
In the retrenchment exercise , it was very clear that heritage fuel mgmt eliminated all the lubes working personnel and vice versa. Although on the surface they merge as one “ family” but underneath they are very much divided .
Now F&L merge into chemical ( I see it more of chemical acquired F&L) … are you naive enough to believe we will expand and grow ? History is likely to replay itself ie it will “ streamline” or “ right sizing” . Within the next 5 yrs , lubes being a dying cash cow could potentially be divested and sold off . Company will collect brand royalty. What about fuel ? Fuel bz is a dog! There is no gem in this business, the only gem which is retail will soon becoming a dog because of EV cars!
All these will happen within the next 10 years . For pple in their mid 30s , I don’t know why you folks are still talking abt DH etc in this forum u will not have a job by then. Let me tell u that F&L merger into chemical , I heard this rumour way back when the company announced merger of Fuel And lubes!
The selling of lubes bz as the game plan was also told during that time …. Now I am seeing it unfolding …For me , my only objective this year is to look out for another runway ….something with a better future .
Ciao Ragazzi!