Some things never change.
9 replies (most recent on top)
It is already published there is going to be lay-off
it's a blood bath here in Asia Pacific. They are starting with the folks that have serve McDermott the longest, because they are the most expensive. More than 12 years with McDermott, you are out the door. CB&I folks dictating the whole process.
It is already there in the news , that they cutting jobs
https://www.upstreamonline.com/finance/mcdermott-set-to-wield-jobs-axe-as-workload-drops-dramatically/2-1-831980
Lummus deal will be closed on schedule, end of June.
New owners are “borrowing about $1.5B of the $2.7B acquired price. (see link bellow)
Much better than the previous buyout where MDR borrowed every dime to buy CB&I.
http://www.moodys.com/page/viewresearchdoc.aspx?docid=PR_425609&cid=HFGG75LYEO30&yptr=yahoo
Phil in Charlotte said that mechanical will be hiring due to all the work that we now have on Netpower. A total of 100 plus new hires will be required. This is great news.
I really surprised that people wonder “if” there will be a big layoff. With no new work coming in of course there will be. The bigger question is: are they going to come out of bankruptcy? Or are they headed for cheaper 7? Is the Lummus deal going through? The silence is deafening.
Poster is the source:) I heard there is big layoff, not sure of bonus
Source?