Thread regarding CGG Veritas layoffs

When it's quiet...

When it's quiet you know something bad is happening.

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Post ID: @OP+16u0wJ2d

16 replies (most recent on top)

I'm guessing poor prospects in the near future and poor prospects in the far future, lets hope the in between bit is good.

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Post ID: @1baiu+16u0wJ2d

Colleagues, how do we feel about the impending Q3 financial results re: employment security?

Share price is not looking good (check YTD and last month). - 6% today for example.

https://finance.yahoo.com/quote/cgg.pa?ltr=1

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Post ID: @1bndw+16u0wJ2d

No it doesn't - the French cuts always come after those elsewhere. It is also clear that any reductions are not being done as arbitrary percentages but as the targeted removals of elements that are no longer part of future plans.

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Post ID: @pyuj+16u0wJ2d

25% in France means the same is likely to be applied across the rest of CGG.

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Post ID: @oupu+16u0wJ2d

The Light at the End of the Tunnel Is an Oncoming Train!!

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Post ID: @nuah+16u0wJ2d

It’s difficult to see any light at the end of this tunnel.

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Post ID: @nppb+16u0wJ2d

If they are getting rid of staff in Massy then you know things are bad.
Those unionised time-severs are usually the last to go.
I still think the place will be either shut or massively downsized once the hedge funds get their way.

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Post ID: @megn+16u0wJ2d

for the english speakers.......

The oil services group plans to cut 94 of its 364 positions. This is the 3rd wave of layoffs in its midst since 2016. Several dozen employees demonstrated in front of the site just before the company's social and economic committee. The CGT and the CFDT reject this plan. CGG employed more than 9000 people in 2015.

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Post ID: @llxf+16u0wJ2d

Moveing France HQ to Nantes perhaps

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Post ID: @lbxu+16u0wJ2d

https://www.evasionfm.com/actualite-56929-l-entreprise-cgg-a-massy-a-presente-hier-son-plan-de-sauvegarde-de-l-emploi.html?version=oise

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Post ID: @lmdj+16u0wJ2d

if there is anything announced i fear it will be the big one — administrators called in.
lesser, better managed and more profitable companies have recently gone to the wall during the pandemic.

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Post ID: @kzoy+16u0wJ2d

The geophysical "el leader maximo" just announced the layoff of 25% in MSY.

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Post ID: @kjur+16u0wJ2d

No news good news and I wonder if it applies here too. This is the last month for Q3 report and I hope the "global geoscience technology leader" will have good news to report. I noticed that the stocks are still below one euro (0.70 euro or about 83 cents US).

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Post ID: @hpvh+16u0wJ2d

It seems that you know something. What's that

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Post ID: @pxu+16u0wJ2d

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