Is Laborde Marine going under?

Professional Mariner Forum
1

Laborde Marine took the biggest pay cuts in the industry sounds like, and still more to come i hear. they lost 10 percent and may loose another 10 percent, lost there 401-k match, and were already the lowest payed.

2

No. That’s why they are not going under, and may even remain profitable and grow during lean times. That family has been around for a long time.

Only 10 percent, plus 6 percent match. If you are still working, so what?

3

[QUOTE=sailsandservice;156891]Laborde Marine took the biggest pay cuts in the industry sounds like, and still more to come i hear. they lost 10 percent and may loose another 10 percent, lost there 401-k match, and were already the lowest payed.[/QUOTE]

I would take a 30% cut if I had to choose between laid off or less pay

4

If I am not mistaken Louisiana unemployment is less than $300/week so any job is better then that

5

That’s not the biggest cut…

6

[QUOTE=bcoogan23;156901]I would take a 30% cut if I had to choose between laid off or less pay[/QUOTE]

So how low would you go? A 50% cut? Minimum wage?

7

Laborde Marine is NOT going under. There was a 10% pay adjustment on Feb 1 and 401k matching was stopped as with a lot of companies. The company is financially sound but is doing what it takes to survive in these hard times. BTW they were not the lowest paid. They are competitive with other companies in fact they are higher paid than Harvey since they took their second cut. Also they are not burdened with all the new build debt that a lot of other companies are. IMO they will survive longer than some of the others if things do indeed get worse.

8

[QUOTE=RespectMyAuthority;156906]So how low would you go? A 50% cut? Minimum wage?[/QUOTE]

30% is a low as I’d go before definitely looking to get a new job somewhere else. Its 70% more money than I would make if I got laid off…

      • Updated - - -

[QUOTE=boatboy;156911]Laborde Marine is NOT going under. There was a 10% pay adjustment on Feb 1 and 401k matching was stopped as with a lot of companies. The company is financially sound but is doing what it takes to survive in these hard times. BTW they were not the lowest paid. They are competitive with other companies in fact they are higher paid than Harvey since they took their second cut. Also they are not burdened with all the new build debt that a lot of other companies are. IMO they will survive longer than some of the others if things do indeed get worse.[/QUOTE]

Yes everybody down here (or at least most) are def trying to trim and save anywhere else right now. I’m fine with that since they are the ones that write my checks so I can live. When did Harvey get their 2nd cut?

9

RMA,
Give it a break, no one wants to take a cut. Anyone that quit now because of a pay cut would be a fool considering how tight the job market is. However once things pick back up and if pay didn’t come back then I would say look around. BTW, how low would you go? SIU? AMO?

10

Laborde is not even close to being the lowest paying. Comar AKA seatran and candy fleet are the lowest paying company’s and they also lay off at the drop of a hat. total bottom of the barrel shitty companies. Diamond services is also crap for pay.

11

i guess maybe they just dont have enough supply boats to pay for their crewboats. and i checked harvey rates and candies rates were higher then Laborde, but there layoff position does suck in hard times.

12

You’re getting mighty close to comparing apples to oranges there DawnPatrol

13

I would say definite apples to oranges comparison. Laborde seems like a much more diversified and established company.

14

[QUOTE=Rain Wizard;156944]You’re getting mighty close to comparing apples to oranges there DawnPatrol[/QUOTE]

rotten apples to oranges

15

[QUOTE=tugsailor;156895]No. That’s why they are not going under, and may even remain profitable and grow during lean times. That family has been around for a long time.

Only 10 percent, plus 6 percent match. If you are still working, so what?[/QUOTE]

Agreed, they have a lot of equipment tied up but so does everyone else. I would expect to see some smaller companies get bought out or close their doors but I would have serious doubts that Laborde would be on that list.

16

Laborde is in fact going under. Just give it 3 months from today’s date.