Thread regarding FMC Technologies Inc. layoffs

Get ready for some balancing of future Income Statements

TechnipFMC conference call for Q4 2018 disclosed TechnipFMC is reserving $280 million for a ‘global’ bribery resolution on past employee actions. A little internet research appears to have disclosed it had to do with legacy Technip SA and contracts in Africa (big surprise), and possibly other places. Doug P., the CEO stated:

"Let me be clear, these historical individual actions are unacceptable."

$ 280MM is an estimate, as it involves three countries, it could be higher, or lower. But lets do the math on this. The average 'non-hardware' producing employee probably makes about $ 120K, including bennies. Thus, to recoup this liability in a year is about 2300 heads. believe me, Maryann has already done the math.

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Post ID: @XQLW0t1

5 replies (most recent on top)

All these Greengate tossers thinking the world revolves around them when in reality they could be shut down tomorrow and there's a dozen facilities that could take over.

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Post ID: @XQLW0t1-arpx

March 4th, you say? I'm sure the layoff will encompass the hard-working dedicated employees at the expense of overpaid TAMU and Penn St. Managers, who can barely provide 8 hours worth of work and are banking on their retirement plan.

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Post ID: @XQLW0t1-6jia

Monday, March 4th. Get ready!!

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Post ID: @XQLW0t1-2yoj

When is the next lay-off

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Post ID: @XQLW0t1-2aif

In the past they coordinated paying these to avoid paying bonus commitments to the lower levels. That way they offset each other.

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Post ID: @XQLW0t1-1qco

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