Thread regarding McDermott International Inc. layoffs

The end

Massive weekend meeting of big wigs and rumor is the company will completely shut everything. That we have zero cash. Zero ability to find cash and even if they do - all and any incoming money is tied up in some fund to repay previous debts that are required by law. Basically we will have no money for payroll by Mid July. Anyone else know about this?

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Post ID: @OP+1fIwLL1W

4 replies (most recent on top)

Not surprised at all. Maybe this is why the entire Communications team senior level managers have resigned and/or quit in the last 60 days???

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Post ID: @hkxk+1fIwLL1W

Reorganization has been in the works before the new CEO took office. Maybe forced by the Board. Cash flow is still an issue but we can just continue to pay vendors late like we have for the last 3+ years.

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Post ID: @4utk+1fIwLL1W

Rumor is there's another upper management reorganization that's going to take place soon.

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Post ID: @4mat+1fIwLL1W

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