Yep. Sounds about right.
Topics regarding layoffs at McDermott International Inc.
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
Unbelievable that he is still here. How? Banks own and run the company now. Anyone start a pool yet on when his last day will be and how many more millions he will get? I’d buy a couple of squares.
So - what was your first clue....the optimistic town halls followed by dismal earning reports; promises to change things up on "challenged" projects then seeing no change or get worse; spending months "studying" software only to discontinue any that... — read more
How much more will we lose on the way down to final liquidation ????????
What's the biggest location, what's the overall employee count and how many employees work at Houston?
Why would the stock be fully canceled and be worth nothing? The company will continue to operate, and new stock will be issued, so why would it not transfer to the new stock? Don’t know much about stock, this is unfortunately from my time with... — read more
Try not to get stabbed !
Stocks ? GONE !!!!! Money ? GONE$ !!!!!! But DD is playing golf ???????
Has trading been suspended on the stock? This morning in pre-markets it was down to 60 cents; now it’s back up at 70 as if it didn’t open today. And there are no active trading charts. Is that how you keep it from falling to zero?
As a result of the prepackaged Chapter 11 process, McDermott (NYSE:MDR) expects to be delisted from the New York Stock Exchange within the next 10 days. While the company's common stock will continue to trade in the over-the-counter marketplace... — read more
As long as we pay vendors like Emerson and others on a timely and contractual basis we should be fine. Late payments, and really late payments to them are a sign of internal trouble. Hopefully they will continue to service us through our struggles.
PA is responsible for all of this. DD did the same thing he did when he merged with CBI. Just like PA did when he bought Shaw.
My cell service stopped completely this AM around 8am. I have to connect to WiFi to do anything. Anyone else in the same boat or know about this? I logged into The account and it said the account is locked. Uh oh. Here we go. :(. So it... — read more
January 17, 2020, 6:45 PM CST (Bloomberg) – McDermott International Inc. is preparing to file for bankruptcy as soon as next week to address its more than $4 billion debt load, according to people with knowledge of the matter. The Houston-based... — read more
McDermott failed to make an interest payment of about $69 million on Nov. 1 and the forbearance deadline expired on Wednesday. Despite the expiration of the forbearance deadline, the company said it is still negotiating with holders of the senior... — read more
That mess has not been fully resolved and hasn't helped the stock price. Will those two clowns be sent back to face the music? Getting that resolved will help our rep!
We'll keep you busy, but you need to do our job at a 10% loss. Agreed ? What say you DD ?
All they did was remind us that we signed a NDA (Non Disclosure Agreement) and that we signed on our first day as "at will" employees. That's it.
See you kiddies in the bread line !!!!
All company credit cards were cut off the end of last week by the Bank of Montreal
It’s coming... brace yourself should be within the next 24-48 hours.
Enough with the smoke and mirrors "we will tell you all about it it next week, next month, next year" I can't take all of the lies and BS anymore. Besides that now that McDermott is going bankrupt we could all be out of a job by the end of the month... — read more
Need to better manage the resources we have. Can also borrow a few more tranches if necessary and stop the gifting of directors under the guise of "retention bonuses." If directors and board members want to leave, nobody outside our sphere will... — read more
Cut main office overhead salaries by 25%. I have heard many personnel are overpaid. Many will unbelievably stay because they cannot find another job paying near the cut or will not leave their comfort zone. Good talent will leave so prepare to... — read more
They could issue say 700 or 800 million shares to come up with some cash to at least stem the tide. Get their credibility back and pay some vendors for crying out loud. If necessary, they could do it again later if needed. What are they waiting... — read more
What happens when there's just no more cash available ? And you cant borrow another dime ? You bust the joint out, that's what. I expect them to ransack and sell off everything in pieces starting with Lummus and finishing with everything that... — read more
Will our stock become delisted ? Will they keep the insane open floor plan for common employees like me ? Will they lay me or any of my coworkers off ? Will we they make payroll ? Will they get a buyer for Lummus ? Questions Questions... — read more
Thanks everybody !!!! Those of you who have been reduced you have my sympathies !!!!!!
The quality vendors and subs have gone unpaid out here where the company generates money. Apparently, the sweat dripping masses should push on so our crown jewel, OMC is fully stocked with coffee. Those of you complaining about open floor plans... — read more
Anyone else heard that McDermott is laying people off?