Is there more work for bull hangers / tankees coming? Or is there more being laid off ?

I haven’t been here long, but I’m already looking for a new job. Obviously I had some bad information when I applied for a job at this company because I thought the situation was much better than it is. Now here on the forum I see someone saying... — read more 

I had a really awful period after I got laid off from McD because I thought I was safer than I actually was and that I still had time so I didn’t prioritize job hunting on time. I finally got a new, solid job and would love to know where are the... — read more 

Anyone? Are there only projects for the Tank people?

It’s hard to get to the interview stage, but I’m still trying because my priority is to get out of here. I used to be proud to work here, but now I feel embarrassed to put McDermott on my resume. That name may have been relevant in the past, but I... — read more 

The impact of the pandemic on business is great, that’s understandable, but I’m not sure if the situation in this company would have been any better if the pandemic hadn’t happened. It was in quite critical condition even before the pandemic. I am... — read more 

How can I be committed to working in a company where there are no benefits, which has no vision, where only layoffs can be expected and where there is no future without cash injections. There is hardly any motivation. Not sure how you do it, but I... — read more 

McD is revising this years budgets and guidance due to delayed contract awards, ongoing projects delayed and increase cost due to COVID.....looks like a repeat of 2019. This is crazy.

Middle east used to be successful region but seems set to fail also. Contracts awarded to competitors in Qatar and KSA. No sign of new work. Struggle and slowdown on current projects. Management are disconnected and don't know region, clients or... — read more 

Is there any mention of layoffs today? Any update? I haven’t heard anything yet except a few rumors, but I believe a real storm is coming. Does anyone know how massive these layoffs could be? I’m really worried because I’m not ready to quit since I... — read more 

Appointment of new in-house Attorney, (long term friend of DD), promotions for some of the "boys", with increased salaries and benefits. The lining of the nests, and legal protections are moving forward. Stand back and watch them get richer, as... — read more 

Not to worry. DD gets his tranch of stock options !!!

Well. After 18 years. lots of good times and lots of great people. I got the word today that my employment is no longer needed. I wish everyone still at McDermott the best.

With all the turmoil in the office I asked to mobilize to borstar to hide out and they approved it. Started early this year. Nearly doubled my take home pay. Seeing is believing. There is hope for us. Being at site makes me realize we have a chance. — read more 

I heard from an HR upper up that a high level Exec is being let go go Friday. More info tomorrow. I’ll post first thing.

I heard from a very senior IT director that all IT will be outsourced from projects to offices by the end of 2021

Seems like without a new project this will just go away? I haven’t heard of any new projects. Anything going on in the BD world!

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.

Do you think there may be small/medium/large McDermott Layoffs 2021? Any news or rumors?

The machine will say it’s for a positive reason but the real truth is another cost cutting move and many more starting next week.

Asking for a friend.

So are all your questions answered and are you ready to believe?

One more day to submit questions to DD! Mine: Couldn't some of the bonus money you handed out during Ch 11 been used to keep the meager cost of living raises we had coming?

What happened in supply chain?

So is everyone motivated and enlightened by the management teams podcast. They can now tell us how great they are and how lucky we are.

Repetition of same expecting a different outcome-

https://www.upstreamonline.com/finance/mcdermott-set-to-wield-jobs-axe-as-workload-drops-dramatically/2-1-831980

Some things never change.

I've heard there might be layoffs sometime this month, can anyone confirm this?

I heard they are going to go to a 4-10 workweek policy and any holidays on Fridays, Saturdays and Sundays wont be paid holidays unless you are at least manager level. A lot of the other engineering companies are doing the same thing.

For first quarter, under Chapter-11 bankruptcy protection McDermott reports $1.4 billion loss on $1.9 billion revenues. Latest period did include $884 million impairments on property and equipment and further $94 million on goodwill. Total Tyra... — read more