that last email from DD sounds ominous, but is not surprising. Oil is in the 20s... that means it is time to cut jobs. You got to wonder if MDR will make it out of chapter 11.
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Yes McDemott will make it out of Ch11. Why? That is the definition of Ch11 which basically means SAVE the company. In what shape? How many employees? Where? Nobody knows. If the medicine is not good or too strong; then Ch7.
Their probably not going to make it out of bankruptcy. Same people doing the same things gets you the same results. How about those raises this year? If you didn’t see that coming your blind.
We just got an email stating no merit raises for the masses for the entire year...completely understandable given the current economy, at least for the ssf short term. But no mention whatsoever about DD and cronies stopping or giving back their bonuses. Crooks.
The merit increases scheduled to hit in May are canked and a hiring freeze is effective now.