TAKEOVER, not merger, by a FRENCH company equals DISASTER for FMC!!!
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If anyone is paying attention to France's new worker rights law and business related emails and text messages then the good news is that the American side will have plenty to keep them busy on weekends and holidays. French holidays that is which is one every other week
Yes American layoffs will be greater than in Europe. Europe works on labour contracts, Americans in Texas especially are at will. This means its easy to get rid of Americans. American upper management will secure higher bonuses and agree to let more of their people go since thats easier.
These mergers with European companies never go well for Americans. FMC will go into the dirt under the French. Look at every French business and colony. France by nature loots and strips anything of value and then leaves the remains to rot.
It's depressing to see our company being sold out and that is exactly what this is. FMC didn't need anyone.
Cost synergies = LAYOFFS!!!
Deeper and wider. Damn you autocorrect.
Layoffs in USA deeper and wife than in Europe aa a result of this merger? Any insights into this?
Probably will
Looks like the July layoffs will be larger than previously thought.....
Buckle up TechnipFMC! Merger = staff reductions...
These things never end well for the common folks. I'd say dust off your resumes, but there isn't anyone hiring right now. Its going to get messy between now and the elections in Nov. with all these business mergers. I don't see Houston shutting down Generation Park, but I do see some French replacing Americans, poorly made equipment and French looting they are famous for and I bet their cousins Deloitte will be right there beside them carving up the ham while we eat peas.
The only good thing about this is the French are incompetent by nature, look at France today, hell look at Louisiana and Canada. It will take them 5-10 years to get themselves positioned to steal everything in sight and move their operations around. Once they do though........
Take a better look at the numbers. Revenue isn't everything, so look at market share and margins. Technip's downstream business is doing well while FMC's onshore and offshore are at the bottom, or near it. You have to look longer term, and what will happen when oil rebounds. It doesn't hurt to have your resume fresh, but there is not a ton of overlap in what each company does other than support roles (HR, Finance, Tax, Legal, Admin).
i don't think anyone knows what will happen at this point... we will have to wait and see.
in the meanwhile, plan for the worst, hope for the best.
Shake your head, DA!! You obviously do not understand big business!! What's your background, assKisser?
Even with more than double the revenue, earnings before taxes wasn't very different.
I'll take the comment about revenues being similar back. They had larger revenues in 2015.
What's your background, OP? It doesn't appear to be a finance one. This is a merger. Equal number of appointees on the Board. Almost identical market caps. Revenues are similar. FMC's CEO will be the CEO of the new company. At least, give logical reasons for your opinion. Smh
You may have a problem. Not everyone.
I agree, I give it 2 years before they shut down all of the Houston operations, and if you work in the surface side of things, you won't be a part of the company much longer, they are gonna spin that off real quick...