Do you think there may be small/medium/large McDermott Layoffs 2021? Any news or rumors?
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What changes are in store for Eldridge location? Brand new building - 20+ stories, 16 year lease - going to be kind of expenisive to maintain what with all the layoffs plus folk working from home. and no new projects.
40% of the workforce will be let go worldwide, some departments are being completely decimated. IT to be outsourced to a company in India.
Yes, large layoffs coming in 2021. I know this first hand from director level management.
This company = the definition of insanity.
Stopped paying bills? This happened last time prior to the Chpt 11 ordeal. Here we go again?
"" The stopped paying their bills again whats that tell you? ""
Based on what? Provide evidence.
The stopped paying their bills again whats that tell you?
I got laid off in Houston yesterday. A colleague told me he saw a whole group of people being escorted out of the building. Managers need Christmas bonuses, so they will gladly lay people off.
I know several people who have left mcdermott and don't have much positive to say. Losing money for years after a self-inflicted merger and bankruptcy. Through bankruptcy they did not change their approach (the love of lump sum contracts) or management team. They are still doing the same thing but hoping for a different outcome - which sounds a bit like the definition of insanity.
The $m that keeps getting poured in will not last. Te statement about profitable work is a joke: there is no profitable work, their losses overwhelm everything. And why? - look at the management team. Offshore and onshore it's a joke. The same teams, more or less, that destroyed the old McDermott are still there, destroying the "new" McDermott.
DD can not see that it is his choices, his people that are dragging McDermott down. The people who knew what they were doing were let go a long time ago. Only sycophants remain.
Another bankruptcy coming.
Medium at best, large at worst. They are still trying to get loss making projects back on track and supposedly profitabke work (in KSA for example) is being slowed.
On going financial woes mean they're unlikely to get awarded any significant epc work.
The hole that they've dug isn't getting any shallower, despite the $m which keep getting poured into it.