McDermott International Inc. Layoffs

Topics regarding layoffs at McDermott International Inc.

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: @12rmEitx

More layoffs going into the end of the year

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.

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Post ID: @12n0R0Lw

Layoffs?

Anyone else heard that McDermott is laying people off?

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Post ID: @12oflN4Q

McDermott: Bullied to Oblivion.

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 

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Post ID: @1168ykGS

Feltham Wages

I hear some Wages have not been paid in London Feltham Office . Any truth Ruth ?

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Post ID: @12koQmSL

Wages not paid in Middle East

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.

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Post ID: @12hJw5aT

Vessels were arrested

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 

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Post ID: @1200MLik

Lummus sale proceeding?

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.

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Post ID: @128LsrUN

What then?

If McDermott does file bankruptcy, what will happen to this big Cameron job about to kick off?

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Post ID: @126Tu0jO

Take-over?

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 

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Post ID: @ZC7Rfvx

Leadership team is thining out

Leadership team seems to be turning over (SS, SA, SM). Technip cronies, what's happening? Wonder if we're about to see some even bigger changes.

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Post ID: @127PKEnU

None of these posts are from McDermott Employees

I just heard about the existence of this website......This is hilarious. For the people on here who actually work with me at McDermott, they would know that our Executives just got stock bonuses. If our management team were planning on filing for... —  read more 

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Post ID: @120jdp0I

Construction on McDermott's HQ Comes to a Halt

Remember when they told us a couple of weeks ago that the move was being delayed because there were a few punch list items to be taken care of and they wanted to wait until construction was completely finished before we moved? Well, the part they... —  read more 

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Post ID: @11UzZwTr

MDR has NOT sold LUMMUS

For the fake post couple days before, LUMMUS has not been sold. The earnings release and no conference call scheduled should tell you something by the "alternative process evaluation" for Lummus. The potential buyer we had couple or the management... —  read more 

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Post ID: @11VSiq45

What's up with this?!

https://www.wsj.com/articles/mcdermott-investors-lent-1-7-billion-without-knowing-of-sec-probe-11573603223 Nov. 12, 2019 7:00 pm ET McDermott International Inc. investors knew they were investing in a faltering business when they extended $1.7... —  read more 

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Post ID: @120kJhZJ

How much to finish the Focus LNGs?

On Nov 11, DD has to submit the final plan outlining cost to finish the focus projects. I have a feeling that if this plan is wrong, then MDR goes under. So what is the latest estimate to finish Cam & Free? What about Pemex? Any hope the bridge... —  read more 

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Post ID: @11X1CQyb

Circling the drain now

I think we're going to find out fairly soon what the other side of bankruptcy looks like. Life will go on.

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Post ID: @121Ugyem

What to do?

When you have family, mortgage and worked hard to provide for them come home only to tell them you don’t know if you will have a job by Christmas it feels like you are worthless. When you see others that are much younger who drive the company... —  read more 

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Post ID: @11YR5fpQ

Lifeline Provided

If your company (A) was just bailed out by another company (B) because company A's projects were hemorrhaging losses then something needed to be done. If the leader of company B decides that a shift in work schedule to see if working every business... —  read more 

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Post ID: @TzW6UUD

Whispers of Bankruptcy

Slow paying of vendors and subcontractors. Key people leaving. No new contracts (JV partnerships where MDR is the bridesmaid doesn’t count).

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Post ID: @ZDvPAod

Bankruptcy Risk Rising

https://seekingalpha.com/news/3514716-mcdermott-bankruptcy-risk-rising-citi-analyst-says

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Post ID: @11UW8E1N

All the Best to Current Employees

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 

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Post ID: @11NugUpd

"Take a deep breath and relax..."

Messaging. Told move was delayed because of punch list items unfinished. But now we find out that that the contractor stopped work because they haven't been paid $14mn. Messaging. Told that MDR received unsolicited OFFERS (more than one?) valuing... —  read more 

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Post ID: @11XJWLM1

Institutional Selling

One of the largest holders of MDR stock ( AMG Managers Fairpointe Mid Cap Fund) has eliminated its position ( 6.5 million shares) at the end of the third quarter. They took a 75 percent loss. Other institutional holders are expected to follow. The... —  read more 

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Post ID: @11YqHsWT

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