McDermott International Inc. Layoffs

Topics regarding layoffs at McDermott International Inc.

Troll

Looks like the board has picked up a troll/spammer. Bankruptcy around the corner, sky is falling. Why are you still working at McDermott? If you're so certain, stop posting doom & gloom here and start posting your resume...

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).

Power Division Closing?

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

Not Paying our Bills

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

Is Soros going to call in our loans ?

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.

WHERE'S THE MONEY ? DD ?

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 ?

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

An activist investor?

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

Layoffs this week?

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

Has anyone seen the office layout for Eldridge ?

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

Divestiture on track

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.

Canada LNG

And possible jobs up that way. Last I heard we’ll need employees from bottom up.

Victim of the downturn

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

WFT is going on with our stock price!

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 Real Problem

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

PWC

Anyone talk to PWC recently? Heard they are doing a one year review of all groups. Though the stockholders need to be doing a review of them for incompetence. Hopefully they are also reviewing the board and executives - but I’m sure those people... read more

What's YOUR Last Straw?

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?

WOO-HOO! WAY TO GO, McDERMOTT!!

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

The End is Nigh

Feels like we're living through a Walking Dead rerun. Can't believe the BS coming from the execs. Everything is fine!

Leadership did not understand M&A 101 (eg Asymmetric Risk)

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
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Post ID: @ZdbUlOa

Is this an option?

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

Safety

I’m sitting here listening to all you guys whining about safety and how everyone has the day off. I gotta go with vex on this one. Everyone else I know had to go to work. If your working for a business that’s on its last leg, you would better shut up... read more

Go Warriors!

HR Carla needs to go clean house with those loser Rockets. Shave that stupid beard Harden!
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Post ID: @Z0pCteH

HAPPY ANNIVERSARY, EVERYBODY!!

Skies are dark and menacing. Flooding just outside your doors. Hopefully you make it home alive. It's a metaphor for the company and bad decisions. But today you can wear DENIM!! That makes everything alright!! CELEBRATE!!

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