Topics regarding layoffs at McDermott International Inc.

Topics regarding layoffs at McDermott International Inc.

Has anyone seen the office layout for Eldridge ?

Will there be any privacy ? Rumors are swirling around here that each task force will be assigned to one huge room to work in with a small desk for worker bees and a big desk at the front of the room to be occupied by the project manager. Never seen... — read more 

Victim of the downturn

I did get laid of today after working 4 hours of overtime. I am going to get paid my overtime and they are giving me almost 20,000 in severance in exchange for a promise not to sue them. They did not sick Deputy whose his face on me though. For that... — read more 

Some of you will be saying bye bye tomorrow !

So long - Too Bad - So Sad -- Bye Bye ! We are an at will employer. See this document you signed your first day ? Good ..... Now allow me to introduce to you Deputy Gomez !

Canada LNG

And possible jobs up that way. Last I heard we’ll need employees from bottom up.

WFT is going on with our stock price!

Exactly, WFT is what's going on with our stock price. WFT went bankrupt yesterday. Smart money is pulling away from poorly run companies with dreams of conquering the world and empty pockets.

Leadership did not understand M&A 101 (eg Asymmetric Risk)

The upside in M&A tends to be measured over a number of years. Conversely, the downside is almost immediate cataclysmic disaster. Don't know the firm they used for advice. But you never hire a brain surgeon with a big mortgage who works on... — read more 

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Post ID: @OP+ZdbUlOa

The End is Nigh

Feels like we're living through a Walking Dead rerun. Can't believe the BS coming from the execs. Everything is fine!

WOO-HOO! WAY TO GO, McDERMOTT!!

The President came to visit the Cameron LNG Plant. The PRESIDENT!! Can you BELIEVE IT?! DD told us all of how proud he is! Almost sounds like he was there, was he? No? ...Oh. Well, was anyone from McDermott there? No? Really? No one from MDR or the... — read more 

What's YOUR Last Straw?

Fun poll. If you've left or your looking, what pushed you over the edge? What policy, benefit cut, event, person, anything? Not the worst thing but the thing that made you decide you had enough? Or if you would quit 'csept for golden handcuffs?

Is this an option?

Is reapplying for a job at McDermott an option? Asking for a former coworker who called to ask about an open position - which left me rather confused. Is that really an option? If it is, what's going to happen with his severance if he gets a job? He... — read more 

PWC

Anyone talk to PWC recently? Heard they are doing a one year review of all groups. Though the stockholders need to be doing a review of them for incompetence. Hopefully they are also reviewing the board and executives - but I’m sure those people... — read more 

Safety

I’m sitting here listening to all you guys whining about safety and how everyone has the day off. I gotta go with vex on this one. Everyone else I know had to go to work. If your working for a business that’s on its last leg, you would better shut up... — read more 

HAPPY ANNIVERSARY, EVERYBODY!!

Skies are dark and menacing. Flooding just outside your doors. Hopefully you make it home alive. It's a metaphor for the company and bad decisions. But today you can wear DENIM!! That makes everything alright!! CELEBRATE!!

Management commentary isn’t fooling the street Just laughing and laughing at the original post. Yes, Freeport is such an unqualified success tha

Errors by CBI and MDR management just keep compounding. If you listened to the earnings call and read the filings, then the decline in share price should come as no shock. The fundamentals of the acquisition of CBI were poor from day one, while the... — read more 

Chiyoda “unquantified change” in Cameron estimate

Huh...what does that mean? That the estimate to finish has increased by so much and so many times that they don’t want to be wrong...AGAIN? Or is this their first step for legal action against our incompetent management (past and present)?

Stock price one year ago was $22.

To think the stock price was $22 a year ago and I was sweating about the health of the company. Now I know that they’ll have to cut all the CBI dead weight (like everyone who came from the acquired) before they get to me.

Actually we are hiring

Not sure what some of you are talking about. We are in the black. Cameron is finishing up nicely and on a positive note. Freeport was a smashing success. We have lots of projects and we are hiring. Stop the false information. Full speed ahead ! Need... — read more 

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| 1770 views | | 13 replies (last May 8, 2019)
Post ID: @OP+YPEtU70

A message from "Pat S"

I realize that many of you who have been laid off as well as some you still with he firm are disillusioned about certain things and I can understand how you all may feel. You are all bright people and expect good results so it stands to reason that... — read more 

GOOD FRIDAY!

Every Friday is good when I get to wear denim! Best company ever! Who's with me? High five!!

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| 893 views | | 2 replies (last April 25, 2019)
Post ID: @OP+YETMlyO

The Real Problem

The real problem is executive pay, inequality and mentality. As long as executives get paid big bonuses for increasing profits with no long term growth goals, it will continue to be a problem. The executives are just taking the shareholders money. A... — read more 

Q1 Earnings Guesses

I wonder if Cameron and Freeport will be able to “hold their forecast” from last quarter. Been there, done that - at the direction of executive management. Look for “soft spots that aren’t real yet”. Though pretty much more cost overruns guaranteed... — read more 

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| 954 views | | 3 replies (last April 24, 2019)
Post ID: @OP+YDfwmKC

McDermott - the risk is not over yet

McDermott stock went by by 12 percent after the news of Cameron LNG commissioning. Granted it is positive news for the troubled project. But McDermott is not done with the construction cost overrun risk yet. Trains 2 and 3 still need to be built... — read more 

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| 2430 views | | 6 replies (last April 18, 2019)
Post ID: @OP+YBAX4BO

Layoffs coming ?

I keep hearing we are going to have another layoff. I see a lot of people quitting and taking jobs elsewhere when other positions are open. Are we going to have this avalanche of layoffs that seem to be rumored ? A better question I have is how can... — read more 

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| 1520 views | | 4 replies (last April 16, 2019)
Post ID: @OP+YAY9p30

Fabrication Facilities Sold???

Does anyone know if the fabrication facilities have been sold. Rumor at the Walker facility is they should know in two week who purchased them. Just seeing if anyone has heard anything outside of the facility.

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| 2050 views | | 9 replies (last April 15, 2019)
Post ID: @OP+Yv4osFo

Laid off recently

Back to the task at hand. How many layoffs are we seeing these days? I had to lay off one of people a few months ago and I’m doing my job and pick up the load? What are you hearing.

Why does Lummus keep having to defend itself?

I will tell you why, because they are a bunch of incompetent losers. Starting at the top. They are plagued with the dumba$$. They think they no so much when they don't know jack. Because they think they know everything, they do not listen. How much... — read more 

How much is Lummus worth?

How much can we get for selling Lummus and I don’t see any integrated projects from their technologies. Isn’t this why DD bought CBI. We already had a playbook of loosing jobs. Still don’t get how Lummus helps. Seems like the tank guys are liked in... — read more 

Tank sale?

Any rumors about what is going on with the tank sale? When it might happen, who the buyer will be, etc?

Spike in attrition

I usually don't pay that much attention to how many people are leaving, but lately it has reached a point where even I took notice. And it's not just employees, managers seem to be leaving McDermott in droves on their own, which is the part of all of... — read more 

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| 2000 views | | 8 replies (last March 29, 2019)
Post ID: @OP+Yaazck2

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