CGG Veritas Layoffs

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Topics regarding layoffs at CGG Veritas

We are far from being out of the woods

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

Checks and balances!

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

CGG Vision Helicopter Crash

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?

Chinese oil firm buys CGG

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

CGG is still hiring

There are over 20 positions all over the world are still open for applications now. http://www.cgg.com/en/Join-Us

Offshore field crews?

Does anyone know of any more redundancies for offshore field crews?
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Bankruptcy hearing at 2:30pm in NY

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

Stock Price...

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?

Multiphysics sale

What ever happened to this deal? Wasnt cgg going to sell it? Is it finalized or did it fall throuogh?

CGG Chapter 11 Bankruptcy Case

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

CGG will not be bought

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

Any news on layoffs?

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.

How vulnerable to takeover...?

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 (?)

CGG Pension

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?

Make sure to cover your bases if resigning

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

nice summary of CGG's position

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

Surviving a workplace bankruptcy

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

CGG Doomed

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

Do not generalize here

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 it went wrong

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

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