Yes.
In reply to: How many people were...
Regarding Thomson Reuters | Post ID: @6xqb+1l6KD46O
Have there been a lot of lawsuits against TR for this? I expect there is an uptick because age is usually a factor in who gets the ax
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More than 450 employees were exited involuntarily in November and December. Over 300 were from the US.
Have there been a lot of lawsuits against TR for this? I expect there is an uptick because age is usually a factor in who gets the ax
100% correct. I have no way of knowing for sure how many people have been replaced for lower paying roles elsewhere. And it’s happening a lot. There are a lot of roles that I know of that were replaced last year for lower paying ones. I have know way of knowing the total but it’s happening and will continue to.
As a proxy if we take what I posted before and compare it against the revenue we can get a revenue per employee. This will give us an idea and this is only through 2021
Revenue data: https://www.statista.com/statistics/225359/thomson-reuterss-annual-revenue/
2018: 5.5 b / 25,800 = $213,178.29
2019: 5.91 b / 24,400 = $242,213.11 / +13.62%
2020: 5.98 b / 24,000 = $249,166.67 / +2.87%
2021: 6.35 b / 24,400 = $260,245.90 / +4.45%
They are getting more value on average from each employee. So not perfect as I don’t know what TR’s total spend is on employee compensation. But at a bare minimum it shows the revenue per employee is going up
LayingFlat, the link doesn't break down changes in staff numbers geographically. I suspect staffing levels in "high cost" areas is plummeting, and growing quickly elsewhere.
This doesn’t include the recent headcount reductions but it does give an idea of what the headcount has been over the years. The last years are flat to slightly negative Where as you have other companies growing 10%-20% year after year.
https://www.macrotrends.net/stocks/charts/TRI/thomson-reuters-corp/number-of-employees
I can only find they're one thru LI posts!
More than TR will ever admit