Colleagues, how do we feel about the impending Q2 financial results re: employment security?
5 replies (most recent on top)
I wonder how
Makes you wonder how they can stay afloat!
CGG have lost over $6.4 Billion Dollars in the last 10 years, and had only one profitable year.
In that time a huge amount of money has been paid out in big salaries, bonus, new equipment, etc
Shareholders / bondholders have been screwed while employees buy newest model cars.
Makes no sense at all.
Year Net Income (Millions) Restructure (Millions)
2018 -180 -1500
more debt less employee
July 2019 results still look bad at first glance!
Net Debt $883.10 (before IFRS 16 $740.7)
When was CGG in profit as a company! Seems like they are still spending cash like there is no tomorrow.