Thread regarding Refinitiv layoffs

Anyone happy at refinitiv?

Nearly a year since I was laid off. It was miserable waiting for the axe to fall. Now things are much better for me. Just wondering is it working out for people still there?

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Post ID: @OP+10BIOzMB

15 replies (most recent on top)

Blackstone will continue to slash the company, lay off thousands and offshore as many jobs as cheaply as possible. And then sell it off to the next s—er.

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Post ID: @10bnz+10BIOzMB

November 1st will be here soon. Another round of belt tightening. Getting lean once again. Enjoy the severance package.

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Post ID: @nqzf+10BIOzMB

So glad I got laid off in the October 2018 cut with severance after 20 years there. Now enjoying retirement.

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Post ID: @nmvr+10BIOzMB

Yeah, that irritates me too. At my location they blocked people from promotions and even lateral moves for employees due to resource issues and people being too difficult to replace in their departments. But will hire someone from outside to get those positions that have no knowledge or who have not put in their time. Basically doing things completely backwards from how quality organizations operate.

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Post ID: @ianh+10BIOzMB

What really irritates me is that due to retention new starters are getting into higher bands really quickly... Few experienced colleges were constantly refused of promotion (lack of resources despite terrific qualifications etc.) and ultimately they left. Now those desired openings were granted to newbies with no experience. Great job.

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Post ID: @htbf+10BIOzMB

No...nobody is happy at Refinitiv. At least that I know. Maybe new hires, HR, and some management may be. I would say 80% are either looking for a new job or are relatively unhappy but are just gonna ride it out for whatever reason...we are all in different life situations. Anyway, morale is circling the drain at least at my location.

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Post ID: @hnbl+10BIOzMB

@fzml one could only wish...oh wait, you meant the survey results were buried.

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Post ID: @fbmb+10BIOzMB

Surely the recent insightful and expensive employee survey would answer that question.

Wait. What? The survey results reflected so badly on management they have been buried?

ha ha ha happy ha ha ha

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Post ID: @fzml+10BIOzMB

Pity the guys that are working on Fleet. They being beaten into ground. And for what? Thanks for efforts, we have finished, now you fired.

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Post ID: @evkv+10BIOzMB

Wait and do bare minimum.

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Post ID: @9wmz+10BIOzMB

I agree with @5oqr.

Seems part of their tactic, besides outright layoffs, is the constant rumors and threats of layoffs. A lot of people on my team have recently quit and gone elsewhere because of the "notices by September, execution in December" rumor at 3XSQ. From my perspective, that timeline would have to be delayed until at least Q2 or Q3 2020 because replacement teams are nowhere near ready, at least for my team. But that constant threat is enough to make a lot of people leave voluntarily, thereby saving the company thousands, if not millions, in severance (that's if there will be any severance at all.) But who knows what will change with respect to the LSEG deal by the time Q2/Q3 2020 arrives. LSEG may want to maintain a presence in NYC and do a 180 with respect to eliminating the majority of teams in NYC, as is the supposed plan with Blackstone. Huge dilemma. Wait it out or jump ship...

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Post ID: @6qjx+10BIOzMB

Refinitiv should just do a mass layoff and start from scratch...and be transparent. We deserve that at the very least. There is a reason why they don't really say much or outline any concrete plan for the future. They want older Thomson Reuters employees to keep slowly quitting one by one as they get scared off and find new jobs over the first two years of the transition. So the company can still maintain some basic level of service to clients regardless of how stressed employees become with being understaffed and losing subject matter experts. Then in two to three years time Refinitiv will have 70 percent new employees, with lower costs and then they will move forward with whatever their future plans are. This is Blackstone's M.O. with other businesses they have taken over. Tell me I'm wrong.

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Post ID: @5oqr+10BIOzMB

@10BIOzMB-1izx sounds like a tool in GBC who's busy closing deals, making it rain...

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Post ID: @3qjc+10BIOzMB

Whoever wrote this must either be in upper management or HR. Who else could be that detached from the reality of working at this place? My department is completely understaffed...quality veterans who gave up on the place due to understaffing, being underpaid, and lack of support have left, and have either not been replaced or replaced by recent college grads who come cheaper and have zero business knowledge. The place os a complete mess.I can't wait to land a new job or get laid off...either one would be a blessing at this point.

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Post ID: @3akb+10BIOzMB

Yep. Comp is going up, very much results driven and lots of work to be getting on with.

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Post ID: @1izx+10BIOzMB

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