Thread regarding Thomson Reuters layoffs

Fascinating that the company message is “service, service, service”.

Then we sack the people who are responsible for ensuring service availability.

I have not been made redundant, but I feel it’s time for a change. There are many other companies out there that will look after you far better than TR/Refinitiv.

TR/Refinitiv operate only with a short term view with the sole focus being to squeeze an extra dollar out of every employee.

Most groups I see now are overworked to the point it is impacting people’s well-being. The once good work life balance is no longer a selling point, the salaries are falling badly behind industry averages, the benefits are on par with low average (and those generally offered by much smaller companies).

Sadly this once great company will now be carved up and served to the highest bidders.

A real shame as the company is now deconstructing teams that have some truly industry leading skills, talent and expertise.

I was laid off. The anticipation was worse than the actual layoff. It’s not the first time for me, but it is the first time it’s been done so humanely. I know a lot of people are frustrated and afraid for the future. I am as well. But if you get severance and are being given three weeks of flexible work time, getting paid while you’re looking for a new gig... trust me, it could be worse, and would be at most companies. And look at it this way, if you find a new job quickly, you end up collecting severence while being paid at a new job. It’ll be okay. My severance is short because I wasn’t here very long, and I wasn’t in a high paying position to begin with . I wish I could stay, because despite what most folks seem to be saying, TR treats it’s employess way better than other companies where I’ve worked in the past. The pay was pretty average, but the benefits and the work/life balance was worth it. I’m sad to go, but the folks here have been pretty supportive and willing to assist me in any way they can to help me find something new, whether within the company or externally, I wish all the folks being let go the best of luck. I know there are quite a few of us trying to wrap our heads around the situation.

Isn't it about time that David Craig resigned?

No news around technical support?

@1wgp, do you have info on what depts/ teams that have been hit? Trying to figure out what they will do in E Asia

Regurgitiv hits continue in New York York

Any truth to all TAMs being eliminated?

I wonder if the mid market team is going to thin the heard of sales managers. It’s long overdue. Sales managers managing people in other states is crazy from a cost and effectiveness standpoint.

They are eliminating Technical Account Manager position globally

How's the Data Cloud team looking?

@uct

These exercises are all the same. It's all BS. C-suite execs hold the usual town halls and proclaim being thrilled, excited, ecstatic at the bright future of the company now that this buyout, expansion, deal, etc, is done. Lots of exciting work ahead. Then comes the team building, marketing, rebranding. More excitement. But anyone who's gone through this before knows by now that the next step is "rightsizing" and eliminating redundancies. I know a lot of people starting getting their resumes ready the minute the Blackstone deal was announced. All this smoke and mirrors shouldn't be fooling anyone into drinking the Kool-Aid anymore.

Refinisacked.

Blackstoned.

Roto-Reutered.

Wait...you mean to tell me the pledge of loyalty to Refinitiv all these managers took so publicly less than 7 days didn’t swing both ways and they were shown the door today?

Most likely all refinitiv.

Are layoffs Refinitiv, or across TR?

Heard qa got hit hard

Solutions architect/market specialist team was hit... not much rhyme or reason to who they’re picking... names out a hat.

Yes, I am curious about types of workers? Developers, Product Managers, Project Managers, etc?

Any particular functions affected heavily? Sales specialists, client specialists, technical account managers, account managers, market development etc?

3rd floor is decimated but no managers

floors 19-23?

t

What floors or groups in NYC?

Yes today is NYC day -- somber mood throughout. Losing lots of good talent.