If Elliott is smart, they should actively be courting the hundreds of employees fired, laid off, let go for being over 55 years old, etc in the past couple of years for their proxy if they kept their P66 stock. There were SGL 20+ people let go by Gogo, Miss Perkins, DEI Beauty Queen and nightmarish CCO and so should have sizable holdings of P66 stock. Probably only too happy to stick it to those who gave them the boot!
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PSX stock owned by former employees and retail investors will not affect the outcome. This vote comes down to the institutional investors (Vanguard, BlackRock, etc.). Employees should be more concerned about well IR and the ELT have convinced the other institutional investors to vote with the board.
So under WEP, I was let go from a role at an undisclosed SGL in 2024. Now I’m seeing that same job posted again—but at a higher SGL. How does that even work?
Those responsible for these decisions should be held accountable!
Trust me we folks that have been “work eliminated” remember how we were treated and will vote accordingly.
The Work Elimination Program was misleading! No actual reduction in workload occurred. Instead, management eliminated employee positions while retaining contractors and outsourcing responsibilities. As previously stated, the program was poorly conceived and executed.
WEP, being a piece of the overall Business Transformation effort, is of course ill conceived and poorly executed, just like BT.
WEP = Work Elimination Program, or another word for layoffs. Many believe it was poorly executed.
For those of us that own stock, but do not work at P66, can you explain what WEP stands for?
Yes, the company is still running, barely. We'll done. And wait until the regulators catch up with the control gaps that have ballooned. It doesn't happen overnight, but it will happen. Congrats again.
The odd thing about WEP is the company is still running and nobody notices your loss. I guess WEP was the correct choice.
Every share is worth voting. In a tight contest you never know what the margin of victory or defeat will be.
I already voted for Elliott.
I was WEP and walked out like a dog after 25 years giving up family functions for the company that said we R Family.
Wish I was smarter! But Karma is a Bi--h!
There's 43 billion dollars of common stock out there. The piddly few million you're talking about isn't worth chasing.
Besides, who works for P66 that actually holds onto psx? Sheesh, that's crazy talk...