The present invention relates to a process for converting a high-boiling hydrocarbon feedstock into lighter boiling hydrocarbon products, said lighter boiling hydrocarbon products being suitable as a feedstock for petrochemicals processes, said converting process comprising the following steps of: feeding a hydrocarbon feedstock having a boiling point of >350 deg Celsius to a cascade of hydrocracking unit(s), feeding the bottom stream of a hydrocracking unit as a feedstock for a subsequent hydrocracking unit, wherein the process conditions in each hydrocracking unit(s) are different from each other, in which the hydrocracking conditions from the first to the subsequent hydrocracking unit(s) increase from least severe to most severe, and processing the lighter boiling hydrocarbon products from each hydrocracking unit(s) as a feedstock for one or more petrochemicals processes.