Thread regarding CGG Veritas layoffs

CGG H2 financial position

Colleagues, how do we feel about the impending Q2 financial results re: employment security?

Post ID: @10jHmTaY

5 replies (most recent on top)

I wonder how

Post ID: @10jHmTaY-Jury

Makes you wonder how they can stay afloat!

Post ID: @10jHmTaY-fdkg

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
2017 -515
2016 -577
2015 -1446
2014 -1150
2013 -691
2012 91
2011 -14
2010 -59
2009 -360

Post ID: @10jHmTaY-cpyi

more debt less employee

Post ID: @10jHmTaY-6wtk

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.

Post ID: @10jHmTaY-6ifr

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