So what happens when the stock plummets drastically and/or falls below 1? Would MDR do a reverse split?
Topics regarding layoffs at McDermott International Inc.
Once upon a time McDermott were a bright shining star in the offshore construction industry, market leaders, developed a global presence and garnered global respect. Sadly, there is no happy ending to this cautionary tale of a once great company... — read more
So lame, also references trust and other lofty aspirations using some guy drawing silly cartoons with canned background music. So not appropriate. An announcement that their COO would sign agreements not to bring USB thumb drives on clients' premises... — read more
Most realise some of our employees have been through a pretty humbling experience but now we are positioned to achieve maximum financial returns
While we are stripping the money making projects of GP, the company is starting to recognize the losses at ANOTHER CB&I LEGACY PROJECT: ASHEVILLE It is another troubled project. Post Shaw merger, the only thing CB&I built was Colombian lawsuits... — read more
Dont forget that. Huge potential. Probably getting ready to take off right now !
Are we still a New Kind of Company? Remember that bland meaningless phrase slapped across everything, repeated endlessly at meetings and on analyst calls? Haven't heard it for awhile, have you? It was code for "we are trying to be TechnipFMC,"... — read more
All while DD fiddles like Nero as the company burns. Little people get the shaft and get to be thrown out in the parking lot by the bad bad Deputy Dawg.
Our company couldnt be stronger. We have the highest backlog in 10 years and the financials are all fiscally sound. Most of our employees are quite happy here and morale is quite high. We are not going bankrupt and if you are lucky enough to work for... — read more
Slow paying of vendors and subcontractors. Key people leaving. No new contracts (JV partnerships where MDR is the bridesmaid doesn’t count).
I am very concerned we are about to get cremated, sliced and diced and sold off as donor parts. I have my resume out, but no takers. With this negative balance sheet stuff happening, its hard not to wonder what's next.
Chatterjee Fund Management recently bought more than 10 million shares or 5.6% of the stock. These guys own the second largest petrochemical company in India and is backed by Soros. Well this is a decent sized bet even for a billionaire. Will there... — read more
Inquiring minds want to know. Is it stuffed under your mattress ? Why arent vendors being paid ? Why are payments delayed ? What is off balance sheet ? — read more
We are dangerously cash short. Need to come up with it fast. But oh no ! DD is first in line to get his 10 million plus bonuses so unpaid bills stacking up and potential payroll default in the future. Better sell something fast. Also, gotta pay he... — read more
I don't know of a single project immune of disgruntled vendors. We haven't been paying our bills. This is a problem across the company; LNG, Petrochem, Power, Offshore. What's next? Payroll? Just wait until they cut our work ours onsite...no more 50... — read more
On July 2nd, Big Boss DD is coming to Charlotte to make a huge announcement. Why would Big Boss DD come to Charlotte? This is his first appearance in Charlotte. 3 options: Motivational Speech Closing the Office (moving division to Eldridge Rd) Sale... — read more
Are you next ? Business is booming for the Deputy Dawg
The banking establishment of India is looking forward to taking over McDermott while it is under Chapter 11. Once blockchain is implemented, engineering trades can effectively be streamlined with lower costs and higher profit.
It looks like the blood in the water has attracted the Wall St sharks. Chatterjee Fund Management has taken a 5.6% stake. I wonder what and who these guys know? The shorts just keep increasing their bets against us too, I wonder what they know! Hang... — read more
Anyone get downsized, mad redundant, canned, fired or forcibly removed this week? Or is the natural attrition outpacing the terminations...and this we are hiring! Management hates it when the good ones quit...makes it harder to cut the dead weight... — read more
The Pipe shops sale will be done in the second quarter. Humm? The tank division will be complete in the third quarter. We have a handle on Cameron. Just a recap and a refresher for what’s coming next quarter. Rumor has it they are giving it away.
Will there be any privacy ? Rumors are swirling around here that each task force will be assigned to one huge room to work in with a small desk for worker bees and a big desk at the front of the room to be occupied by the project manager. Never seen... — read more
Apply for employment with our company where pride and integrity come together !
I did get laid of today after working 4 hours of overtime. I am going to get paid my overtime and they are giving me almost 20,000 in severance in exchange for a promise not to sue them. They did not sick Deputy whose his face on me though. For that... — read more
So long - Too Bad - So Sad -- Bye Bye ! We are an at will employer. See this document you signed your first day ? Good ..... Now allow me to introduce to you Deputy Gomez ! — read more
Time to make updates to your resumes ladies and gentlemen. Staff is going to get cut again. Bechtel is hiring.
Contrary to some misguided belief, coming to work is not something you are doing on your time. You are highly compensate professionals working for a fist class firm that has fallen behind some of the other majors in our industry. The management needs... — read more
And possible jobs up that way. Last I heard we’ll need employees from bottom up.
The Layoff is a dastardly propaganda message board. For false statements made here as well as inflammatory rhetoric we will be seeking damages. Your IP addresses will be subpoenaed and you will be brought to justice. Those of you still employed will... — read more
Exactly, WFT is what's going on with our stock price. WFT went bankrupt yesterday. Smart money is pulling away from poorly run companies with dreams of conquering the world and empty pockets.
The upside in M&A tends to be measured over a number of years. Conversely, the downside is almost immediate cataclysmic disaster. Don't know the firm they used for advice. But you never hire a brain surgeon with a big mortgage who works on... — read more
Feels like we're living through a Walking Dead rerun. Can't believe the BS coming from the execs. Everything is fine! — read more
Any updates here?
The President came to visit the Cameron LNG Plant. The PRESIDENT!! Can you BELIEVE IT?! DD told us all of how proud he is! Almost sounds like he was there, was he? No? ...Oh. Well, was anyone from McDermott there? No? Really? No one from MDR or the... — read more
Fun poll. If you've left or your looking, what pushed you over the edge? What policy, benefit cut, event, person, anything? Not the worst thing but the thing that made you decide you had enough? Or if you would quit 'csept for golden handcuffs?
Is reapplying for a job at McDermott an option? Asking for a former coworker who called to ask about an open position - which left me rather confused. Is that really an option? If it is, what's going to happen with his severance if he gets a job? He... — read more