Thread regarding ION Geophysical Corp. layoffs

Major layoff today. 23 more let go. All areas were hit and many old-timers let go. Also VP's Doug White and Steve Monteith were let go.

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71% Ion Geophysical will go bankruptcy. According to />

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Please, if you work there, start aggressively looking for alternate employment opportunities. Otherwise, book a trip to Disney World and talk to your fellow lala landers. Sorry to be harsh, but as a former employee no longer in lala land (unemployed), I care.

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The $1.9 mil figure is from 2014 for Mr. Hanson.

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The company must be healthy - Brian Hanson gave himself a 45% raise in 2015 to 1.9 million.

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Stock is .87/share. It won't be long before they shut the doors or get bought out. With the huge losses they are taking quarterly, they won't be able to pay their current employees much longer. It's a shame that the executive team has allowed the company to be run into the ground instead of looking out for their shareholders.

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Calypso is gone and so is OceanGeo, the company has had huge layoffs while their so called restructuring is all about making a few more managers positions available, The real issue is the company lives in the past and will not or cannot accept it lost its huge market majority, Gator is full of bugs 24/7 and the people they are laying off are those they actually require to solve this issue. Orca has very little clientel along with gator. All hopes are pinned on Narwell which is a product so simplistic it will be done very shortly by someone else quicker, better and cheaper. Bad company, Bad management and Bad decisions

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I was laid off from the company. Great job and good benefits. It's a buddy system company (all about who you know), however it was fun while it lasted.

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I heard the rumors of the "Buddy System" hiring. Perhaps they weren't rumors after all. Hmmm...

Also heard Calypso is beyond salvaging and wonder if that is true. If so, such a shame but not surprising. It was built, in a huge rush, using temporaries who were not trained properly and had no SOP's. There should have been engineers looking over the shoulders of all aspects of that build.

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Once Chris Usher came on board, he started bringing in all he old friends. He is a big part of PGS and Global Geophysical going bankrupt. He has been hiring high level managers while having large layoffs for the the workers. ION will be in Chapter 11 soon enough with the leadership that is in place.

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You are right. The Houston executives are simply padding their pockets

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This companies upper management is the real problem. The CEO is more concerned with his bonus than how the company is really doing. The board should be embarrassed that they have allowed this to go on so long.

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The 23 was the Harahan location. There must have been more in Houston.

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I heard it was 52, including Mike Mellen, a VP.

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