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Will Phillips 66 lay off 600 employees before Q4 2025 closure?
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Resolution / Starting Odds
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Official announcements from Phillips 66 or major news outlets
Story
Phillips 66 to Close Los Angeles Refinery in Q4 2025, Impacting 600 Employees After Newsom's Oil Law
Oct 16, 2024, 10:33 PM
Phillips 66 has announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. The closure will impact approximately 600 employees and 300 contractors. The company cited long-term sustainability concerns and market dynamics as reasons for the decision. Phillips 66 is engaging with land development firms Catellus and Deca to evaluate future uses for the Wilmington-area site, which may include redevelopment as a last-mile logistics hub. Despite the closure, Phillips 66 remains committed to meeting California’s commercial and consumer fuel demands. The announcement comes days after Governor Newsom signed a new oil law.
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Similar markets
Significant job losses • 25%
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DECA • 25%
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Logistics hub • 25%
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