The company faces serious issues with employee morale. Everyone does not like their job anymore or just dont care. Culture will be probably wiped out by the end of this year.
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It was only a matter of time...........nowadays OI is all about spin, ability means nothing.
Here is a part of what 2017 is bringing to OII The "yes men" are not doing so well.
This place is a circus.........lots of clowns!
About the same as Asset Integrity then......we got rid of the good guys now we are left with donkeys.
Morale is horrible in STAR, everybody is looking for new jobs and can't stand to be there anymore. STAR management has no idea what's going on.
What will 2017 bring? Should be an interesting earnings call today.
Oceaneering International Inc. earnings at a glance:
-Earnings (Q4): $2.58 Mln. vs. $27.37 Mln. last year.
-Earnings Decline (Y-o-Y): -90.6%
-EPS (Q4): $0.03 vs. $0.58 last year.
-EPS Decline (Y-o-Y): -94.8%
-Revenue (Q4): $488.45 Mln vs. $722.07 Mln last year.
-Revenue Change (Y-o-Y): -32.4%
I was recently let go and can tell you it is a relief. I have been quietly wondering how far down the company will go down before the sun rises again for the last two years. I can only hope for my friends who are still there that the sun will come out soon and shine brightly. The only downside to this is the leadership has been running scared for the last 18 months and is making decisions based on fear and not on strategic thinking. Hopefully, the new guard will somehow turn this ship around or abandon ship because they have been, like another poster stated, leading the company towards the rocks. Best of luck to all of my old friends and hope for a turn-around soon.
All this Company wants in 'yes-men', ability means nothing, under the 'new' leadership the Company is sick. Many of us have worked hard for the old guard but the Baker boys are steering us towards the 'rocks'.
No one is happy and if your not in the cliq you will be demoted or let go
When you spend the money OII spent acquiring dogs (in Laffy they did not even acquire the bldgs. as part of sale) you have consider blowing 600 million in acquisitions and no return bad business. Buckle up buttercups, rough ride ahead!
I have been saying this for months. The market downturn is only around 60% of the issue, the rest is poor management. No-one seems interested in making money nowadays because our leadership are more interested in spin than ability. We spend more time on developing pointless 'smart goals' than growing the business. By the time we become the clone of Baker the company will be finished......
It is time for the stock holders to revamp the C-Suite! It's apparent present folks can't perform in the bad times only the good times.
Also appears to be very poor BD and Sales Staff!