Thread regarding Refinitiv layoffs

Is the office in Zug really closing?

Someone mentioned on this board yesterday that layoffs are happening in Zug due to the closure of the office there. As far as I can see, none of the other posters commented on that or gave any more details. Is the Zug office really closing? Has that been confirmed? Hope there are some people from Switzerland on this board to provide some pore precise info.

by
| 1239 views | |
Post ID: @OP+11M0zGIJ

3 replies (most recent on top)

As was written in the original post the consultation period started yesterday. The 13 will get their notice end of november indicating that probably the last day will be end of february.

Remaining staff will be moved to the Zurich office by end of march

by
|
Post ID: @gwr+11M0zGIJ

Just to be clear ...
TRGR (Owns all TR assets for tax reasons) will still be in Zug.
It’s just the Refinitiv Zug temp office that is closing (no longer needed for tax reasons).

I guess Refinitiv or blackstone tax base is elsewhere in the world ...

by
|
Post ID: @qso+11M0zGIJ

Yes the Zug office is closing.

TRGR has an office in Baar Zug next to BMW garage for many years.
When the company split happened aka F&R become Refinitiv that Office was closed and TRGR moved fo one location in Zug (TR assets only now) and Refinitiv new company for tax reasons also moved to a small temp office in Zug.
Being based in Zug is no longer a tax compliance requirement for Refinitiv as it is TR (TRGR).
Yesterday the closure of Zug office was announced with 13 redundancy (technology roles based in Zug for historical tax reasons , now not a requirement) and others being moved to existing office in Zurich.

by
|
Post ID: @hmf+11M0zGIJ

Post a reply

: