I am always right. The death spiral of TGS has started. Many more rounds of cuts to come.
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Sure, of course you couldn’t care less, that’s why you’re lurking on a website that’s made specifically to discuss such things
As a matter of fact, I couldn’t care less about any particular player in the seismic industry, since I am not in it, or obsessed with the failure of any.
Keep telling yourself that ‘Fred’ if that gives you a warm fuzzy feeling and makes you think you have job security at TGS! Things get worse from here, trust me…….
TGS has maintained a similar healthy cash reserve throughout the period from 2014 to present. Unlikely that the industry will ever see worse. Its disciplined business model and ION’s clown car business model are incomparable.
I’d say in this case, “staff fluctuation” or layoffs as most normal people call it, is an extremely good indicator that someone in management has hit the panic button! Can’t afford all those expensive ion staff after all hey? The nature of this industry dictates that while finances appear good now, that pile of cash will rapidly evaporate when industry hits more bad times. Ion used to have cash you know. Save this text, tgs going under in < 3 years
TGS Stock: 5 day up 2%, 30 dqy up 21%, 90 day up 35%; Market Cap $2.2 Billion; Cash and cash equivalents $190 million
PGS compare; Stock similar pattern; Market Cap $0.9 Billion
Staff fluctuation is not a good indicator of a company's financial health.
Bet they are wishing they never got the check book out! This is ION all over again, starts with a few cuts, then spirals into mass layoffs and bankruptcy! I’m going to enjoy watching this play out