Layoffs are almost certain. Expect cuts in SDS pm side. ROV technicians. STR engineering (shift most of the work to India folks).
Lots of high paid managers still around that will be let go. The investors want to see how Oceaneeing cuts cost and it must happen quick.
The coming layoff will be so shocking to everyone. Be prepared.
made into a thread from @PXz6gFZ-1nsm for info.
That's ominous. That's what they did before one of the bigger layoffs. Trying to weasel out of paying out for unemployment benefits, which is shameful and disgusting.
They had drug tests at the Houston campus the week before Thanksgiving.
To be honest the market has changed dramatically since 2015 when oil prices plunge. But you get the feeling that they are grasping at straws as to how to make profits moving forward.
Because ‘he’ is more interested in spin than returning the Company to meaningful profits...........how this Company has changed over the past 3 years, and certainly not for the better.
He certainly is the REAL problem. Does not know the industry or the market. What led us into this position even as the industry downturn happened.
Nothing will change whilst our current CEO is in position, he's the real 'problem'.
FYI, just the beginning. There'll be no getting out of this. Yes, the fattest fat will be cut first, but the cuts will continue and continue. Nobody is safe, and I mean NOBODY.
Wow! Do you think Morgan City will be hit hard? It is time for management cuts. Cash position has been hammered by inept, ill advised purchasing. Could have saved a bundle by doing most in house. OI needs new blood to steer us out of this.