Asking for a friend.
Topics regarding layoffs at McDermott International Inc.
So are all your questions answered and are you ready to believe?
One more day to submit questions to DD! Mine: Couldn't some of the bonus money you handed out during Ch 11 been used to keep the meager cost of living raises we had coming?
What happened in supply chain?
So is everyone motivated and enlightened by the management teams podcast. They can now tell us how great they are and how lucky we are.
Repetition of same expecting a different outcome-
Some things never change.
I've heard there might be layoffs sometime this month, can anyone confirm this?
I heard they are going to go to a 4-10 workweek policy and any holidays on Fridays, Saturdays and Sundays wont be paid holidays unless you are at least manager level. A lot of the other engineering companies are doing the same thing.
For first quarter, under Chapter-11 bankruptcy protection McDermott reports $1.4 billion loss on $1.9 billion revenues. Latest period did include $884 million impairments on property and equipment and further $94 million on goodwill. Total Tyra... — read more
Do we need DD's expertise that badly ??????
There is another bankruptcy hearing tomorrow with the United States Trustee. Any idea what this is about?
I cant get a straight answer from corporate.
Gist of the email... no more hiring & no more raises for the foreseeable future... I better not see one more stinking cent or one more transfer of stocks to the already grossly overcompensated BOD or Executives for running the company in the... — read more
that last email from DD sounds ominous, but is not surprising. Oil is in the 20s... that means it is time to cut jobs. You got to wonder if MDR will make it out of chapter 11.
Bellyaching about the buses helps noone !
DD needs more funding.
Any news out there about possible office closings due to the Corona virus particulary my office location in Plainfield, Illinois?? If the office would close, what is the possibility that our pay would continue? If the offices stay open, what is... — read more
Workers on the Hackberry Louisiana LNG site are still being crammed on buses to and from the jobsite as of yesterday. So much for social distancing...
The SEC is investigating statements made by the company before its bankruptcy. "Federal regulator objects to clause in McDermott bankruptcy "Commission has filed an objection to part of Houston-based McDermott International Inc.’s bankruptcy... — read more
Office is done and gone. Everyone was laid off this week.
What are your thoguhts?
Heard some corporate do nothings are going to get cut this week. If you don’t have a charge number then you’re gone.
Yep. Sounds about right.
Does anyone know the truth about the sale of the US fabrication shops. All we are told at all the meetings first quarter. I wonder why they keep laying off skilled labor and not office workers or managers. Instead they move people around to try to... — read more
Regardless if it’s customary or not. DD should renounce his bonus. He already received one last year. Him giving up his bonus could save some jobs. Layoffs still... — read more
All said and done its the individual shareholders, hard working employees, and the suppliers who don't get paid are the real victims. Management walks away with golden parachutes, retention bonus' and other perks they feel entitled to. McDermott and... — read more
For all of the individual investors in MDR common stock where your investment shares are being cancelled and made ZERO value, you can opt out of the resolutions to hold all parties harmless. By doing this all of Bad Actors in the demise of MDR stock... — read more