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 cutting, I suppose.
At Sweeny the first round started today 10/24.
The severance packages were very good.
The selection process is more difficult to define. It appears mid range salaried folks and lower senior management was the target
The actual layoff numbers in Sweeny are going to be misleading.
The best and brightest have been leaving like birds flying south.
Those that had a few hairs on their ba--s stuck it out for the severance packages, the more vulnerable with families to raise decided to leave as soon as possible three months ago.
The Houston Job Market is hot. Those with both hairy ba--s and excellent resumes are cleaning up with 25 to 30 percent raises in their new jobs and a very nice severance package from P66.
It is a big boy game. Nothing evil or underhanded is going on. Those that say so are crybabies with no grit in their craw.
P66 is restructuring out of necessity. They will incurr the loss of valuable talent during Transformation because their best people can make more elsewhere without worry or layoffs or working with the McKinsey kids looking over their shoulder with a clip board.
Sure change is difficult. It is also profitable for those with the resume to clean up in the white hot job market. We are primarily talking about elite engineers but the best technical minds in general will take a hundred grand or so from mother P66 as a parting gift and move on to a job that pays 25 to 40 percent more in a location that is not in the middle of nowhere.
For those with the resume and intestinal fortitude to step up and volunteer for the layoff, it is the best of times.
For those who are locked into the small town where they grew up, have minimally marketable job skills the Transformation is a nightmare.
I landed a job that payed 35% more, that provides significantly more growth potential and already had a strat date, knowing 10/25 had to be Dday. I volunteered to be laid off, accepted my severance pay and other parting gifts with a big smile, left with zero grudges and knowing that I was not being personally victimized.
It is called business.
Forget any loyalties you have to the company and put your life and your earnings into your own control.
P66 is just another job place, nothing more, nothing different, the leadership is doing what they feel will provide the best long term results for the company.
Time will tell if their calculations are correct. There will be some negative impacts from the loss of talent, but P66 is a historied company and will likely thrive in the future.
Be a grownup professional, stop whining and improve your position.