This is a clear warning that even if the investors vote in favor of the restructuring plan it doesn't mean that the company is out of the hook. In contrary, the company may face more financial problems because of the sustaining low market activities... read more
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Topics regarding layoffs at CGG Veritas
The french labor unions (CFDT/CGT) are planning to have an elected representative at the Board of Directors at the next shareholders meeting. They have been bargaining for the restructuring plan and have been received by the french president as per... read more
Oslo's seismic imaging department was Ok (during the last two years) because of a big multi client processing project (North Viking Graben). They didn't do anything big or even medium size for external clients this year. Apparently the management has... read more
http://www.dailymail.co.uk/wires/reuters/article-4883160/CGG-bondholders-launch-legal-action-against-bankruptcy-process.html Any info on this?
Slightly off topic but can anyone tell me what the outcome of the investigation was for that helicopter crash on the Vision back in 2013?
Does anyone have any idea how many contractors are currently employed by CGG for their offshore crews?
Well, this is going to get interesting... http://www.nydailynews.com/newswires/news/world/france-ban-oil-gas-production-2040-article-1.3472962
CGG Norway has announced a need to cut as many as 70 % of its workforce by the end 2017. Employees were informed of the new cuts this week.
The least suprising news of this week. http://timesofindia.indiatimes.com/business/international-business/Sinopec-press-conference-later-today-regarding-CGG-acquisition/articleshow/60220481.cms
There are over 20 positions all over the world are still open for applications now. http://www.cgg.com/en/Join-Us
Does anyone know of any more redundancies for offshore field crews?
United States Bankruptcy Court Southern District of New York Chapter 11 Case #: 17-11639 Meeting of creditors: Date: August 9, 2017 at 2:30pm Location: United States Bankruptcy Court, SDNY One Bowling Green, Room 523 New York, New York 10004-1408
Any one have any thoughts about repercussions of declining stock price? Is there some price that might warrant a takeover? Is CGG likely to get money for refinancing with declining stock price?
What ever happened to this deal? Wasnt cgg going to sell it? Is it finalized or did it fall throuogh?
United States Bankruptcy Court Southern District of New York This is it! Ladies and gentlemen. Chapter 11 Case #: 17-11639 Meeting of creditors: Date: August 9, 2017 at 2:30pm Location: United States Bankruptcy Court, SDNY One Bowling Green, Room 523... read more
Realistically as a company, I cannot see them being brought out or taken over. What would a buyer gain from doing so? Sure they will have employee’s but let's face it, most of the experienced ones have either been made redundant or even just walked... read more
I heard CGG are planning to construct a Death Star.
For some reason, I feel like we are in calm before the storm phase. I hope I am wrong. If anybody has any info on CGG's plans, please post here.
With the stock price just over 4 bucks how vulnerable is CGG to takeover right now?? I know there is a lot debt but surely there must be value somewhere (?)
I'm not sure if this is the right forum to post. However, with all the uncertainty about the companies future, does anyone know what will happen to the pension? I presume it's covered for circumstances such as this?
Do you know if the BK is applicable to CGG Veritas De Mexico?
I submitted my 2 week resignation letter, via email, to the HR manager, following the personnel handbook. I then forwarded the email to my personal email account for my own record. Later that day, I emailed the same worded resignation letter to my... read more
http://www.offshoreenergytoday.com/cgg-faces-uncertainties-to-carry-on-as-a-going-concern/ The company’s restructuring plan entails full conversion of unsecured debt into equity and raising up to $500 million of new money through a $125 million... read more
Huge impact on my background!
It is true and because of this CGG will never become a profitable company. They will be always in debt because they have too many levels of management and affiliated non-technical staffs to do their paper works and travel bookings. How could they... read more
Everyone who is still working at CGG should have a look at this article. http://www.bankrate.com/finance/personal-finance/surviving-a-workplace-bankruptcy-1.aspx Surviving a workplace meltdown Tidy up your own financial house Tie up loose ends with... read more
No wonder the company is in the state it's in. I worked at Robertson UK, who have had two rounds of redundancies, all of which have been shop-floor staffing levels. Not a single manager or director has been made redundant. It's such a top-heavy... read more
CGG is a big company and they have many offices around the globe. If the HR staffs in one of these offices are rude to the employees it is unfair to generalize it to others. I worked with CGG in downtown Calgary until few months ago and I would like... read more
Where does CGG go from here....? What does the future hold..?
When is Malcor going to be forced to resign.....?
Funny that the name Veritas is creeping into these posts as soon as the bankruptcy proceedings are underway. It is only now that it is being aired when people are reflecting on what went wrong. 10 yrs ago Robert Brunck CGG CEO did a Town Hall in... read more