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.
Topics regarding layoffs at McDermott International Inc.
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
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
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!
See you kiddies in the bread line !!!!
All company credit cards were cut off the end of last week by the Bank of Montreal
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
It’s coming... brace yourself should be within the next 24-48 hours.
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
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
Anyone who would invest in corruption, lies and deceit are fools. It is not the CEO's fault, it is the board of directors. Vote them out are lose your money to the executives. They operate off of intimidation and bulling. What a wonderful company... — 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 !!!!!!
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
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
Used to work at McD. Left in 2015, never looked back. Look folks, this company was the best of the world at one time. I chose to come to work there for that reason and did so for 25 years. We did some of the best offshore projects. When we... — read more
Slow paying of vendors and subcontractors. Key people leaving. No new contracts (JV partnerships where MDR is the bridesmaid doesn’t count).
Marine and dive crew wages not paid for a lot of people in the Middle East many not been paid for weeks /months in some cases no information from management in Dubai or Housten, complete Lack of respect for employees.
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
Just remember that DD has vision for a ONE McDermott scheme !
Some employees don’t like the open floor plan because they say it cramps their privacy, but the collaboration benefits are enormous and the only reason many don’t like it is because they would prefer to surf the internet all day, which isn’t cool. ... — read more
Is anyone else hearing of another round of layoffs going into the end of the year? Or is it select and performance related? Seems like they're starting tearing down some old fiefdoms.
Anyone else heard that McDermott is laying people off?
There’s the door !
We need cubicles and privacy. I don’t like this new arrangement at all. They say we will collaborate better and that our productivity will go up. I say it will lead to increasingly bad moods. Of course they will tell us there’s the door if we... — read more
I hear some Wages have not been paid in London Feltham Office . Any truth Ruth ?
https://www.upstreamonline.com/rigs-and-vessels/mcdermott-vessel-pair-briefly-faces-arrest/2-1-705313 Upstream reports Helix obtained arrest warrents on McDermott subsea construction support vessels North Ocean-102 and -105. Warrants were placed by... — read more
There is rising speculation that Lummus bids are coming in at acceptable levels. Whether the banks let us off the hook is another matter, but it's a positive if true.
Do you predict that there will be McDermott Layoffs 2020? Any news or rumors?
To everyone but YOU! Clark Griswald would be proud.
If McDermott does file bankruptcy, what will happen to this big Cameron job about to kick off?
Date Stock Price 15-Nov 0.6 Holder Shares Date Reported % Out Value Avg share prchase price Nov 15 Value Loss Loss Percentage Blackrock Inc. 27,645,245 29-Sep-19 15.20% 55,843,394 2.02 16,587,147 (39,256,247) 0.70 Vanguard... — read more
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