CGG Veritas Layoffs

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Topics regarding layoffs at CGG Veritas


What chance is there of a change in fortune of CGG while Malcor is still at the helm....?? Surely he is the root cause of the problem?
by | Post ID:
648 views | 5 replies (last )

Time to close the doors

Another big quarterly loss. Debt repayment is not killing them, bad management is. Only a fool would give these losers another half a billion dollars to continue to line their pockets ... “The ability of the Group to continue as a going concern... read more
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716 views | 4 replies (last )

Executive officers compensation and protectionism

Executives officers compensation for running this company into the ground (takes a lot of work and special skills to be so efficient at destroying value ...) : Compensation Fixed Variable Directors Fee Mr. Remi DORVAL € 112,001 N/A € 57,200 (2) Mr... read more
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1210 views | 10 replies (last )

Merge with ion

Create dominant player in geophysical equipment. World class seismic processor offshore. Great geographic footprint. Cut redundant back office expenses
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1086 views | 10 replies (last )

Keeping useless management while laying off productive employees

That is a very common trend in today's economy, keep the (obviously inefficient) managers and make the people that actually do the work redundant. It seems like the "managers" feel that they simply have to sit and "babysit" a shell company ( and... read more
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571 views | 1 reply ()

What happened?

CGG SA CGG:FP EN PARIS 4.75EUR. 1.09. 29.78% Any news?
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1063 views | 6 replies (last )

We are far from being out of the woods

This is a clear warning that even if the investors vote in favor of the restructuring plan it doesn't mean that the company is out of the hook. In contrary, the company may face more financial problems because of the sustaining low market activities... read more
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712 views | 1 reply ()

Employee representation at CGG Board of Directors

The french labor unions (CFDT/CGT) are planning to have an elected representative at the Board of Directors at the next shareholders meeting. They have been bargaining for the restructuring plan and have been received by the french president as per... read more
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872 views | 6 replies (last )

Checks and balances!

Oslo's seismic imaging department was Ok (during the last two years) because of a big multi client processing project (North Viking Graben). They didn't do anything big or even medium size for external clients this year. Apparently the management has... read more
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1028 views | 5 replies (last )

Half of CGG seismic imaging centers slated for closure

Rumor: 50% of CGG's seismic imaging centres is going to be closed 3-6 month from now!!! Do you mind me asking where this rumor came from, ? I have been hearing talks about specific seismic imaging centers being in line for reductions... read more
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1330 views | 7 replies (last )

CGG Vision Helicopter Crash

Slightly off topic but can anyone tell me what the outcome of the investigation was for that helicopter crash on the Vision back in 2013?
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783 views | 4 replies (last )

CGG employing contractors?

Does anyone have any idea how many contractors are currently employed by CGG for their offshore crews?
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789 views | 3 replies (last )

CGG Norway (Oslo) cuts more jobs

CGG Norway has announced a need to cut as many as 70 % of its workforce by the end 2017. Employees were informed of the new cuts this week.
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3753 views | 55 replies (last )

Chinese oil firm buys CGG

The least suprising news of this week. /
by | Post ID:
2412 views | 17 replies (last )

CGG is still hiring

There are over 20 positions all over the world are still open for applications now. /
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1313 views | 10 replies (last )

Offshore field crews?

Does anyone know of any more redundancies for offshore field crews?
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526 views | no replies

Bankruptcy hearing at 2:30pm in NY

United States Bankruptcy Court Southern District of New York Chapter 11 Case #: 17-11639 Meeting of creditors: Date: August 9, 2017 at 2:30pm location: United States Bankruptcy Court, SDNY One Bowling Green, Room 523 New York, New York 10004-1408
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1264 views | 6 replies (last )

Stock Price...

Any one have any thoughts about repercussions of declining stock price? Is there some price that might warrant a takeover? Is CGG likely to get money for refinancing with declining stock price?
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1318 views | 9 replies (last )

Multiphysics sale

What ever happened to this deal? Wasnt cgg going to sell it? Is it finalized or did it fall throuogh?
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809 views | 2 replies (last )

CGG Chapter 11 Bankruptcy Case

United States Bankruptcy Court Southern District of New York This is it! Ladies and gentlemen. Chapter 11 Case #: 17-11639 Meeting of creditors: Date: August 9, 2017 at 2:30pm location: United States Bankruptcy Court, SDNY One Bowling Green, Room 523... read more
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1170 views | 5 replies (last )

CGG will not be bought

Realistically as a company, I cannot see them being brought out or taken over. What would a buyer gain from doing so? Sure they will have employee’s but let's face it, most of the experienced ones have either been made redundant or even just walked... read more
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1056 views | 2 replies (last )

CGG plans

I heard CGG are planning to construct a Death Star.
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1060 views | 7 replies (last )

Any news on layoffs?

For some reason, I feel like we are in calm before the storm phase. I hope I am wrong. If anybody has any info on CGG's plans, please post here.
by | Post ID:
1041 views | 5 replies (last )

How vulnerable to takeover...?

With the stock price just over 4 bucks how vulnerable is CGG to takeover right now?? I know there is a lot debt but surely there must be value somewhere (?)
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1069 views | 4 replies (last )

CGG Pension

I'm not sure if this is the right forum to post. However, with all the uncertainty about the companies future, does anyone know what will happen to the pension? I presume it's covered for circumstances such as this?
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1342 views | 11 replies (last )

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