What a shame what has happened to KBR, It all comes down to the management and leadership of the company. Their lack of billable work, coupled with the downturn of the industry has caused a large number of people to lose their jobs. The downtown office is a ghost town !
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KBR has turned down an invitation to bid for a major upstream feed project. If you are still in the remaining upstream workforce at KBR, it's about time to polish your resumes.
KBR is still going strong despite the economic downturn. They value their long time employees and continue to do so. WorleyParsons is also hiring qualified personnel and is very stable despite the current economy. Energy project is still very much alive.
The ex-WorleyParsons on the ELT team have totally messed up this great company.
"This is not true. KBR has a lot of major projects and is hiring a lot of people. They offer the best salary and good benefits."
HAHAHAHA. Corporate toady or sublime sarcasm?
Can't figure out how this ill captained ship is still floating...oh yeah, STOCK BUY-BACK.
Best Pay and benefits? Hogwash! They just cancelled all paid holidays for the rest of the year and rolled everyone's vacation accrual back to nearly nothing. That after raises were denied and salaries frozen!
This is not true. KBR has a lot of major projects and is hiring a lot of people. They offer the best salary and good benefits.
1200 employees laid off ? That sounds low. I know they've swept entire departments.... but the strange thing, highly compensated managers stayed intact. Does this make sense ?
Very unfortunate. I was hoping that if leadership was strong, the company could survive these tough times, but if decisions are not sound during these time... it will be impossible to survive.
Tough for all those great engineering professionals who dedicated so many years to KBR and were left..... with nothing...
BANKRUPTCY IS THE ONLY WAY OUT. THEY MIGHT REORGANIZE, BUT IT SEEMS UNLIKELY.
It is true. The quarterly results, plus the lack of backlog, plus the overhead. The company is spiraling out of control. The majors are not releasing any projects.... KBR is not going to make it, unfortunately. The worst part is that they continue to add high level executives to their team, which carries very heavy compensation packages and this obviously dos not help.
Most projects have come to a halt. It's hard to believe but KBR's days are counted. Bankrupcy, whether they reorganize or liquidate, may be their only option.