Thread regarding McDermott International Inc. layoffs

Settlement cost?

This thing is done. Case closed.

McDermott International wins. TechnipFMC loses. Aagain.

Clever timing after Q1 call. Avoids embarrassing questions.

Is your COO still employed?

At McDermott, integrety is the foundation of trust. It defines our reputation in the world. Without it, we have no business in this business.

How could the terms of a settlement be kept secret for a publicly traded company?

https://www.andrewjowett.net/2019/04/23/mcdermott-settles-with-technipfmc-over-coo-trade-secrets/amp/

Paying Tecnipfmc is better than MDR executives testifying under subpoena in a criminal court case.

Did McDermott just settle out of court with Technipfmc over COO trade secret theft?

Wait to get laid off until 2019. MDR’s severance plan is richer.

I printed all the documents I intend to take when they walk me out. It’ll all fit in a single folder. Who needs a bunch of CMS procedures, drawings, designs, proposals etc etc for projects that failed as miserably as they are. You’d be a fool to use them again. & strategy... what a joke so hopefully that’s why they hired this guy. Shame he was stealing it.

Fed up - come lay me off...

This new COO will be up for a trial in January 2019. Technip has submitted evidence showing that this guy stole confidential information such as business plans, and shared bid information with McDermott while still employed with Technip and being considered for McDermot role. Court has agreed with Technip and has ordered to stop working as COO until the trial.

public relations disciplines include: financial public relations – communicating financial results and business strategy, can communicate both internally & externally (clients), the message here is that cheating is a part of our culture, clients concerned about protection of their IP should take this into consideration when choosing a business partner

Make no mistake about it. There is no stealing of skill or talent. Just straight up stealing of data. The former would have been respectable to clean up the CBI mess.

This is what happens when you do not have the talent and skill to do something on your own. You steal it from somewhere else, Corporate America at it's finest.

CB&I never fired anyone for any legitimate reason...cultural integration at its finest...I’m sure when this COO leaves McD in a year, he’ll walk away with millions in bonuses (and apparently some IP as well).

Because releasing him now is a quasi admission of quilt and would require mcdermott to write a sizable check to Technip fmc. They will have to defend this guy to the bitter end.

So why is this bozo coo still employed with mcdermott?

Allegedly mcdermott already won a contract because of insider info, so they got the obvious positives from hiring him. Any further association with the person is going to be all negative. Guilty or not why retain him?