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
Comment! It's anonymous! Post information you know, rumors you heard, your experiences, or contribute to the discussion by answering or asking about layoffs at CGG Veritas. The comment form is located near the bottom of the page.
Topics regarding layoffs at CGG Veritas
I don't buy this "we are now safe" crap.
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
As Yahoo shows
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?
I heared we wasted $5 million on this in legal, banker and accountancy fees. https://www.thelayoff.com/neos-geosolutions
We are delighted to announce that we have now completed our financial restructuring process and emerged from Chapter-11. This is an important milestone in our company’s history as it marks the beginning of an exciting and positive future. This... read more
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 ?
Can someone who understands this be so kind as to explain what all this means ? https://www.nasdaq.com/press-release/cgg-instruments-to-be-issued-as-part-of-cggs-financial-restructuring-plan-20180212-00025 Also is there a date they plan to "come out"... read more
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! www.cgg.com/en/Investors/Shareholder-Information/Share-Price-Details
Stock price is doubled in two business days. What happened?
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
Should be very soon, right?
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 !
− 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
The office is huge. The parking lot is always full.
I have heard rumours of another vessel to be taken out of service?? Anyone have any info?
Does anyone think that 2018 will be any better for CGG?? Is there anything to be optimistic about?
Did they achieve this? Does anybody really know? or $500 million have not yet achieved?
FROM N+1 "COME UP WITH IDEAS REGARDING AUTOMATION" IF YOU ARE MANAGEMENT THEN OBJECTIVE IS "HOW MANY NEW POSITIONS CAN BE CREATED"
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
Some new changes? https://www.bloomberg.com/press-releases/2017-12-04/cgg-announces-the-launch-of-ceo-succession-plan-jaspmu4a
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?
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
Executives officers compensation for running this company into the ground (takes a lot of work and special skills to be so efficient at destroying value ...) : Compensation Fixed Variable Directors Fee Mr. Remi DORVAL € 112,001 N/A € 57,200 (2) Mr... read more
When will we find out?