Member Info for Bob182071

Hi Chief,

Afraid I do, 14 years continuous service with a 2 years break where I worked elsewhere, but 16 years total service.

Work mainly in client offices due to my offshore background but have been here when it was Woodgroup, Woodgroup PSN and then the AMEC merger if you want to call it that.

Would like to say I’ve seen it all, but in the current debacle maybe I haven’t.

Also, bit of an odd lie if I didn’t. Not sure what the value of lying about that would be either? 👍🏻

You’re absolutely correct my man.

I work in North Sea operations and this part of the organisation has been wholly profitable for the business, it’s the other arms that are dragging it into the mire. BP, Shell, Equinor (although Shell UK and Equinor are away to form an IJV) have all extended or awarded wood major contracts in the past 1/2 years.

What I find wood appear to not be great at is their ability to keep contracts and cutting their throats by doing so. Understand the need to keep up good client relations, but surely at a loss or cutting right to the bone can’t be a long term strategy for success?

I bet there’s banks out there lining up to restructure the business and debt etc, but just not with these clowns at the helm. If you read the bullet points of the audit, it’s a sad indictment of the lack of internal controls with a heavy amount of duplicitous behaviour and some major dishonesty that has got us to the brink.

A real sad state of affairs, but whilst this current BoD remain, I can’t see anyone lining up to support their incompetence any further. It’s a real shame, this company was a real beacon of success in this city, its lurched from acquisition to acquisition to retain contracts which has diminished its standing and reputation. Sir Ian Wood must be heartbroken watching what it has become.

Yes I am mate. Last town hall we had the terminology used was Wood have got the facility currently to pay our wages unimpeded until October next year.

The order book is filling up nicely with renewals and new contracts wins internationally. Middle East is really picking up for Wood.

But correct, it’s business as usual. I work externally in central Aberdeen in a clients office and just had my contract extended for another year so just bartering on and see what ensues. Glad I’m not sitting up at Sir Ian Wood House, must be like a powder keg in there just now.

Hi mate,

Inside out, I don’t think anyone I’ve spoken to welcomes the Sidara bid. Last email we got suggested there’s a lot of hurdles they’ve got to jump and clear before they get approval.

Personally, I can see the company riding it out, getting a restructure in place, but this BoD have got to go and pretty quickly if that’s in anyway achievable. Just a minion mate but that’s the feeling around the office and people that work in house at client offices that are invested in Wood.

Last town hall we had about a month or so ago was heated! Think loss of confidence in the current regime was at the top of the list of discussion points.

Soon clients will be running, but are extending existing contracts and Wood constantly winning frequent work internationally…………during this period of uncertainty.

Dave, respectfully I don’t think you know what you’re talking about. Should maybe just sit this out perhaps.

That would be putting it mildly mate. Lack of transparency and communication from above is disturbing.

Been at the company for 16 years in total now, never seen it as bad as this. You come in the door and get showered with “invest in woods future” blah blah blah. Some people have invested for 40/50 years, a mess!!

I don’t see how an EGM is not being demanded here. How much more incompetence is acceptable at this point?

Haha. Mate, seriously the current CEO is an utter clown and I’m being generous. Get constant spiel of “I still believe in this company” nonsense.

Gonna go down as one of the worst CEO’s in history.

Lots of people internally going to lose fortunes due to mismanagement, incompetence and dare I say shady business practices!! Looks like some people on here will too, it’s a disgrace.

Hi Mike, I’m not an expert in this field. I’ve bought shares internally for the 14 years I’ve been at the company, very disappointing with what is happening currently, the BoD have completely lost control and trying to save face. We’ve been allowed to continue buying up till this month internally and thereon due to suspension all contributions through PAYE will be refunded.

Can everyone please be a bit more respectful to each other on here? Like to hear peoples opinions and great there’s differing ones, but some have a real air of superiority and it’s a bit OTT in my view, nobody knows what’s going to happen, so take your positions and opinions, have a discussion and be a bit more respectful.

Yeah, that’s absolute nonsense I’m afraid.

I currently work for Wood so please stop pedalling absolute falsehoods, that would be ideal.

Our board of directors are nothing short of a disgrace. How they’re still allowed to continue heading a company in serious bother is beyond belief!!!

Wouldn’t expect much in terms of clear and concise communication as they’ve clearly not been upfront with the auditors. An unmitigated shambles.

No, it’s not. It’s retreated back to where it started at open this morning.