McDermott International Inc. Layoffs

Topics regarding layoffs at McDermott International Inc.

US fabrication shops

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 

These are the real victims

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 

Opt out forms due by Feb 19

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 

What was your first clue things were heading towards BK?

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 

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Stock

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 

Trading suspended?

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?

MCDERMOTT FILES FOR CHAPTER 11 BANKRUPTCY

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 near on time we are OK

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.

Remember

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.

Did they lock our cell phone accounts?

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 

Payments defaulting 😞

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 

Colombia still hanging over us

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!

Credit Stop

All company credit cards were cut off the end of last week by the Bank of Montreal

[email protected]

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 

Make Tough decisions ASAP

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 

Smoke and Mirrors at OMC

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 

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Post ID: @OP+12rmEitx

Layoffs?

Anyone else heard that McDermott is laying people off?

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