Thread regarding McDermott International Inc. layoffs

How big of a storm is coming?

Is there any mention of layoffs today? Any update? I haven’t heard anything yet except a few rumors, but I believe a real storm is coming.
Does anyone know how massive these layoffs could be?
I’m really worried because I’m not ready to quit since I don’t have any savings or other options. I prioritized the search for new options to the maximum. That’s the only thing I can do.

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Post ID: @OP+19E5mYo7

4 replies (most recent on top)

Has there been a lot of layoffs?

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Post ID: @Fxhm+19E5mYo7

The cash injection that went in last year will soon be used up. Without another round of capital raising, or the sale of assets, it seems as if only one outcome is likely. Who would award a significant EPC(i) to a company on the brink...it's just to risky.

Maybe a carve out of certain parts of the company might save it from the complete obliteration it's been steered toward. That might mean another embarrassing climb down for senior leaders, but they seem to shrug those off and their bonuses help them forget.

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Post ID: @1sfp+19E5mYo7

Unfortunately, rumors typically become reality. Sadly, can't do much. Keep the faith, trust yourself, there will be life afterwards.

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Post ID: @gcv+19E5mYo7

We don’t make money on jobs we buy them. We don’t take care of our employees.
We cut all benefits but health care.
It’s kind of obvious that it’s coming to an end.
Investors have dumped hundreds of millions of dollars it to us but kept the same management so it’s the same outcome. I don’t think there is any investors that are will to look what happens and be eggar to give us more money?? Make sense?

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Post ID: @pvm+19E5mYo7

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