Errors by CBI and MDR management just keep compounding. If you listened to the earnings call and read the filings, then the decline in share price should come as no shock. The fundamentals of the acquisition of CBI were poor from day one, while the... read more
Topics regarding layoffs at McDermott International Inc.
Huh...what does that mean? That the estimate to finish has increased by so much and so many times that they don’t want to be wrong...AGAIN? Or is this their first step for legal action against our incompetent management (past and present)?
To think the stock price was $22 a year ago and I was sweating about the health of the company. Now I know that they’ll have to cut all the CBI dead weight (like everyone who came from the acquired) before they get to me.
Not sure what some of you are talking about. We are in the black. Cameron is finishing up nicely and on a positive note. Freeport was a smashing success. We have lots of projects and we are hiring. Stop the false information. Full speed ahead ! Need... read more
I realize that many of you who have been laid off as well as some you still with he firm are disillusioned about certain things and I can understand how you all may feel. You are all bright people and expect good results so it stands to reason that... read more
I read a lot here of Deputy G walking people out by grabbing the walkee’s left tricep. How has this a**hat not been sued or arrested?
Every Friday is good when I get to wear denim! Best company ever! Who's with me? High five!!
The real problem is executive pay, inequality and mentality. As long as executives get paid big bonuses for increasing profits with no long term growth goals, it will continue to be a problem. The executives are just taking the shareholders money. A... read more
I have only been working here since last year, but during lunchtime yesterday, I used a can opener tool in my Swiss pocket knife to open a can so i could microwave my lunch. Next thing I know the gestapo security folks surrounded me with an HR rep... read more
I wonder if Cameron and Freeport will be able to “hold their forecast” from last quarter. Been there, done that - at the direction of executive management. Look for “soft spots that aren’t real yet”. Though pretty much more cost overruns guaranteed... read more
McDermott stock went by by 12 percent after the news of Cameron LNG commissioning. Granted it is positive news for the troubled project. But McDermott is not done with the construction cost overrun risk yet. Trains 2 and 3 still need to be built... read more
I keep hearing we are going to have another layoff. I see a lot of people quitting and taking jobs elsewhere when other positions are open. Are we going to have this avalanche of layoffs that seem to be rumored ? A better question I have is how can... read more
Does anyone know if the fabrication facilities have been sold. Rumor at the Walker facility is they should know in two week who purchased them. Just seeing if anyone has heard anything outside of the facility.
Back to the task at hand. How many layoffs are we seeing these days? I had to lay off one of people a few months ago and I’m doing my job and pick up the load? What are you hearing.
BD chasing and signing anything they could get their hands on; Operations WARNING the qualified resources weren't there to execute the jobs; senior management responding "damn the torpedos," full steam a head. Went from Wonder to Thunder to Blunder... read more
I will tell you why, because they are a bunch of incompetent losers. Starting at the top. They are plagued with the dumba$$. They think they no so much when they don't know jack. Because they think they know everything, they do not listen. How much... read more
How much can we get for selling Lummus and I don’t see any integrated projects from their technologies. Isn’t this why DD bought CBI. We already had a playbook of loosing jobs. Still don’t get how Lummus helps. Seems like the tank guys are liked in... read more
Any rumors about what is going on with the tank sale? When it might happen, who the buyer will be, etc?
I usually don't pay that much attention to how many people are leaving, but lately it has reached a point where even I took notice. And it's not just employees, managers seem to be leaving McDermott in droves on their own, which is the part of all of... read more
Competitive pay and benefits! Employee training and development! Interesting work! Great work-life balance! A bright future! Smart, industry-savvy leaders which think outside the box, with unquestionable of integrity! A track record of success in... read more
Face it. Y'all were completely wrong. No Lummus sale. No bankruptcy. No mass layoffs. Goldman didn't take over. DD is still the boss. This is the best company to work for.
Get out before this sh-- stain of a company makes your resume untouchable. Wish I left a LOOONG time ago but stuck here now.
So with the wheels coming off the legacy McD projects (less Middle East) how long can they blame all the problems on CB&I
New Kind of Company. GPLNG. Focus Projects. Fully understand. All behind us. Didn't say that, what I meant was. New Kind of Company. GPLNG. Underbid. CBI's fault. Backlog. New projects. CPI. Offshored. New Kind of Company. GPLNG. CPI stretch goals... read more
Double D lost $168,000 but why is it before the bell? Tanks sold? Wait and see.......
Or the beginning of the end. 27% drop is nothin - CBI used to drop 30% multiple times a year. Don’t fool yourselves either - this is CBI all over again. Buying projects with no understanding how to execute.
For the fourth quarter of 2018, McDermott expects to report an adverse change in estimate of approximately $168 million, due to unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.
Most combinations fail, moslty cause a culture mismatches. So sayeth HR. MDR and CBI aint a good fit, trying to make them fit would be like sending these CBI dandies to conversion therapy. It just don't work, they was born that way. No surprise if... read more
The only way to pay off banks & PIPE & end overhang of F projects. Watch.
The good news — the JV won! The bad news for McDermott folks — Chiyoda is doing pretty much all engineering (in Yoko Ono) and Zachry most of the construction (except OSBL I think though not sure what the final DOR looked like). The tanks though are... read more
It’s bad at the Plainfield office. It has been for a while. Morale is at an all time low and management purposefully keeps employees in the dark on everything. The management “style” at Plainfield is willful ignorance vague, meaningless platitudes... read more
Any factual information known about the CBI office in Plainfield? Always a lot of hearsay about building being sold, a move to Houston, pending cuts, etc. Lost lots of good people gone who had the experience and know how to get things done. All that... read more
Any word on the future of the Charlotte (power) office?
Does anyone know what the current severance package is, if any?
I just heard that the shop in Walker was sold to Brown and Root? Has anyone heard anything??
Any hints, laddies an' lasses? How much gold did Goldman go through? How unclear are the Out of Focus projects already a year since the merger was announced? Was there any real due diligence or only doo-doo diligence? Enquiring minds want to know!... read more
Another round of lay offs today. But hiring in Mexico if you want to relocate on your own with the pay cut.
Do not go to HR, you will be next on the layoff list. Best thing to do is move on. I worked on a project where the lead's daughter worked on the project as an engineer. It was a joke and destroyed moral. The lead had no business being a lead in the... read more
Departmental Managers clueless on operation Move people around like cattle No stability or consistency Not American Engineering HR sweeping stuff under the rug Parents supervising (if that is what you call it) kids Ambition low, people are given jobs... read more