CGG Veritas Layoffs

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Topics regarding layoffs at CGG Veritas

More layoffs

Calgary let 7 go today. 2 processors, 4 in office operations, 1 in IT Calgary was hit yesterday, which means that we can definitely expect more layoffs next week. As somebody put it in that other thread, CGG does this in stages. Not sure which... read more

Career after CGG (share your story)

I thought it would be interesting for those ex-CGG guys here to share how things have gone career-wise since they left. Given the industry situation, most of us had to look outside O&G to opportunities. Also a significant number of us do quite unique... read more

Are we safe now?

CGG is out of the woods now. That means we are finally safe. Am I right? At least no need to worry about layoffs in the near future?

We should sue these guys

I heared we wasted $5 million on this in legal, banker and accountancy fees.


CGG has had interest expenses of about $180M per year for the last 4 years. They have incurred losses averaging $961M per year over the same period. How will wiping all but $1.2B their debt and raising $500M help them survive 2018 ?

Massive destruction of capital

Share price tanking again today. Market cap is now about 46 million Euro. At the end of 2012 CGG had a market cap of almost 4 billion Euro - yes, billion. Shocking!

HR in other centres

Why is The HR department in CGG so bad? I have heard that HR in Calgary is one of the worst, apparently she is never in the office and when she is, she is bad at her job. You never hear of bad HR departments in other centres like Perth or in Asia... read more

CGG Stock price

What's the reason for the 33% + fall in the CGG stock price today? Has reality finally kicked in?


My former boss resigned after 15 years with CGG. He will join TGS soon. He said , CGG has fallen and will formally declare bankruptcy in a coming months! Is it true? I thought they managed to get some cash from somewhere for chapter 11 !

Protection of Jobs in France

− confirmed that pursuant to the draft safeguard plan and in light of the underlying market assumptions of its Business Plan, no social or industrial restructuring is contemplated in France, it being noted that its strategic transformation plan... read more

CGG Financial Restructuring - How does this work?

This is directly from the Financial Restructuring FAQ's from the CGG website: – the exercise of such a PSR will also result in an existing CGG shareholder receiving – in addition to the Warrants #1 – theoretically close to 3.25 Warrants #2 (i)... read more


What chance is there of a change in fortune of CGG while Malcor is still at the helm....?? Surely he is the root cause of the problem?

Time to close the doors

Another big quarterly loss. Debt repayment is not killing them, bad management is. Only a fool would give these losers another half a billion dollars to continue to line their pockets ... “The ability of the Group to continue as a going concern... read more

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