5% - representing 1,100 headcount to relief. Wrexham, UK and USA still far away from the figure needed. Moreover, for god sake LT will deliver at least 15% addition than forecasted (perhaps seek 20% to keep them away from chopping board). Collective gross figure in this chat may keep our fellow colleagues afloat from the tormented environment ... mental state with hopes while awaiting their unknowing fates. Wrexham 294, UK 280, Sydney 12, Singapore 20-30%, Malaysia 2, Tokyo 1, Brookfield 32, NYC 16, San Francisco 3, Cape Town 6, Lebanon 7, Dubai 40, Canada 4, Hong Kong 50, Chicago 9... Eagan ?
49 replies (most recent on top)
Refinitiv cuts 2,000 jobs after Blackstone takeover is the announced number not speculated 1,100 or 5% from DC. Where those arrear that will fill the large gap?
Well, as the biggest customer surely Refinitiv has an influence, even if it's not out in the open, on Reuters News operations?
C - i'll bet unrelated at all. Likely, finding a good excuse at the right time for a reason ...... the nicely packaging on media of an action while with least impact over consumer confident. check mate!
Which is correct ?
a. Refinitiv fallout ":" Reuters job cuts
b. Refinitiv fallout "=" Reuters job cuts
c. Refinitiv fallout "never relevant to" Reuters job cuts
https://www.thebaron.info/news/article/2018/10/29/refinitiv-fallout-reuters-job-cuts
A relief that this thread having news no more after 4th day. Some thread posted seem no related to Refinitiv or may be journalist who seek more news but I'm glad that no hotstile redundancy news for the past few days. Let's the past be history and keep the reunited troopers stay focus and move forward in our new journey and life goes on. We are here now......... The answer!
Refinitiv aims to become the Netflix of data but DC says 15pc of the cost base out easily without disruption. Assume 5% workforce will be 15% cost saving ? if answer is no, more than 5% projected.....
https://www.thebaron.info/news/article/2018/10/25/refinitiv-vision-the-netflix-of-data
@VExb35x-ajur, more than agree. The quick band-aid reaction as insecure scenario, the face expression says : "I DON'T KNOW what will happening next" is my good guess.
Re afte post, "DC surprised on Tradeweb question by CNBC interviewer..." I didn't look surprised to me. He looked insecure.
DC surprised on Tradeweb question by CNBC interviewer. The AsiaPac is the future under Refinitiv flag from this interview concluded,
https://www.cnbc.com/video/2018/10/24/refinitiv-ceo-big-part-of-our-business-is-with-asia.html
FXAll for sale, Tradeweb on IPO, current news IFR unit under auction hammer. 1,100 redundant casualties is way too conservative for carrying Refinitiv flag across 2019. what do you guys think ? https://www.bloomberg.com/news/articles/2018-10-24/refinitiv-is-said-to-explore-sale-of-ifr-financial-media-unit
Perhaps we should get to know better our new employer before you closing your book. This hot news may give you guys some heads up about BS, the fund channeling and methodology to benchmark: https://www.theguardian.com/us-news/2018/oct/23/california-public-employees-unwittingly-fund-rent-control-fight
Those impacted on identified deadlines example 4th Nov, some will be 12th Nov week and as well those being set a time-line i.e. January, March, April, seize of certain operations or jobs to vacate and etc. Bottom-line underlying clarity at scope of objectives been delivered from this redundancy exercise. This page will soon be history while penning down the message, what does matter most is "friendship" through TR's values TRUST, PARTNERSHIP, INNOVATION & PERFORMANCE is carrying with us before being separated or some may decided to leave the organisation. Herewith, the journey of 95% has to keep going with Refinitiv's values [Asset Management mentality] "Trust" "Bold" "Performance"............life goes on! But our spirit, believe of close bonding amongst colleagues will stay forever thats matters-es to most of us!!!! keep the networks alive and going.....
I thought DC just told FT a few weeks ago Tradeweb and FXall were 'crown jewels' and why would they want to sell them??
What a joke! DC has no idea what he's talking about
The past weeks of sad news, here we go... 1st great news benefiting from TRADEWEVB intended IPO. Colleagues from Tradeweb stand to gain from IPO. Instead of 2B market estimated worth, 8B market cap through over purchases upon IPO. Hope the trend is a full stop from this thread! no more bad news to add...... steadfast in provide positive news to our fellow colleagues.
https://www.fnlondon.com/articles/tradeweb-ipo-being-considered-says-owner-refinitiv-blackstone-david-craig-20181022
The gross 1,100 accountable and achieved or 5% matched announcement (should assume 280 UK materialised), those poor souls are from (targeted) business/job portfolio(s) all over except Finance & HR. Guys, you are consider on safe ground if your name didn't call, the baton shall pass on to Finance & HR before mid span manager whom may have executed the "separation through redundancy". The general guides from tracks of redundancy, retrenchment, layoffs, volunteer separation scheme GGO generally very less impacted than other units. Hence, small headcount casualty while as well little mid span manager or good guess "asset management" by raise the bar line to develop greater gaps of effectiveness over cost measures which is their's behavioural =(revenue/headcount productive/hr - cost/headcount productive/hr) on simplification process of layers "Head of xxxx" ranged from varies of 6 layers to 10 layers (DC to analyst standardisation on each line of product). One way that's bring solace through creating a framework for understanding the conditions and situational and directing avenues for hope. Keep us going and be tough..... may god blessed your days ahead!
customer support centre for Latam call in English Spanish and Portuguese.
So sorry to hear that. What departments were in Buenos Aires?
Buenos Aires 30 - April 2019, Office completely close down.
@VExb35x-4wnn, ugly truth but harmless to hold the lamp up by shed the hopes going. We are those lost pact for time being, stay in spirit, lend our ears and shoulder to support those needed as well for ourself to feel belongs. Finance under scope before mid-span Manager.....keep the tough going!
@4hzl This is not ending tomorrow, it is continuing till wnd of October barring some exceptions as quoted by DC
About Argentina, what I heard is that a lot of people working for 'Reuters Support' will be released next year - they support customers in portuguese and spanish. I am not sure about the numbers, probably 10 or 20.... Looks similar to what is happenning in Sydney. Only people from Bangkok has been luck, so far.... Maybe because thai people are very nice, friendly and know muai thay? (I've been there, loved the country!)
790 includes Brazil, Gdynia, Zurich & Geneva contractors confirmed casualties. 280 assume UK union accountable, 1,070 compatriots leaving us and will be apart. I hope Argentina and Mauritius will grant immunity as Bangkok! In positive thinking, (30) left before 1,100 you are blessed..... pray till is ending Tomorrow.
I was informed about:
-80 Poland
Any news from other locations?
any news on Poland ?
here you go - 17th Oct 2018 quote : The Elektron real-time cloud delivery can simplify access to real-time price information across the financial community and beyond by taking away the need to 👉🏿 invest in on-premises infrastructure👈🏿.Elektron real-time data delivery using Amazon Web Services (AWS).
https://www.leaprate.com/forex/data/refinitiv-expands-cloud-delivery-of-real-time-financial-data-via-amazon-web-services/
The man slaughter wind blows in-depth South America, Eastern Europe. More offices having news with unscheduled visitors that worried most. More news to add on coming TWO days, can't bear with this mental torturing environment. Perhaps unusual morning in next couple of hours whether warm seat in office or shown the door!
Brazil - 7 people so far plus two directors; looks the wave has stopped.... For now.
But I have just heard that Argentina has just been hit. More people will refinitileave us.
The engulfed are HD, Admin and TAM on small office i.e. <15 FTEs suggested pattern. Conservation tracks defy early information of seize operations entirely on EMEA small offices. I think is good news than wiping out hopes.
I am very curious what will happen to other countries in CEE. I mean small offices like Romania, Greece, Serbia. I haven't heard anything about them.
@VExb35x-2zgn, Thanks for the heads up. The long waited black day, hopes it start-end quickly. Perhaps day after next reporting to State Street or Amazon instead.
Thursday is the Gdynia day...
Anyone having idea on Gdynia ? Too quiet to be true......
Sdyney - Helpdesk will be closed in end q1 2019,and Oms will be closed around 9-12 months. 17 thus far. Zurich 15 of 49. London TAM 6 of 16 added to the wider view....
Geneva - Seems like the new corporate organization foresee the move of support functions (help desk and customer admin) to “cheaper” locations. So not only FTE but also contractors working in those depts - 30% in CustAdmin - will be affected. We will know more when the plan will be laid out on Nov 6th. Between Nov 12th and 16th our colleagues will be called to 121 meetings when their fate will be announced. It seems that some of us will be needed for a longer period to ensure a smooth transition to our colleagues who will take over our accounts.
Sydney 17... +5 to your table.
771 + TW 2 + Seoul 1 + (Spain, Portugal, Turkey) 42 + Geneva 120 = 936 (-164 to hit base line 5% 1,100 provided 280 UK union assume materialised).
Refinitiv's wave has just started here in Brazil, some people from sales have been cut... Let's see the final figures of the disaster to come. As Roger Waters says, resist!!!
Sad news with 67.4% on Geneva. That's really bad, can't imagine a site will get hit that hard, enormous large percentage, then aftermath how it going to continual operates subsided workforce besides low esteem morale and demotivated resource? I can feel the loss.
Geneva - 120 out of 178 to be made redundant
No news is a good news.... hopefully it ends here with no more sickening news on UK or EMEA.