Thread regarding Thomson Reuters layoffs

TR Segments - what's going to happen

When you look at the segments, Tax, Corp and Legal, which group is in the best position to whether the storm. Tax looks like it's going to be even more brutal than last year with the tax deadline extended, which means that the selling season is shorter. Those firms will be very cost conscious and I will doubt that many of them will look to change software providers which drives that business. The content side is going to get hit very badly, and it was already sliding due to a lack of focus, so this may accelerate the slide even further which may result in headcount reduction. On the legal side, law firms still have clients they are servicing but most, if not all courts, are closed, and without any new business, I can see that dwindling rather dramatically as well. This business has been flat for the most part for years, but I don't see a slide like in tax, who was already slipping before this. Corporates could be hit very hard as well as business dries up and customer needs dwindle. I think when you break it down, the one thing that plays well for corporates and legal is that a good amount of the business is committed for a longer subscription periods. Add all this up and combine it with TR's lack of empathy for their employees, if this lasts for long, they very well may furlough or use this as an opportunity to eliminate positions.

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Corporates has experienced some key departures over the past few months. Conversations in tax are around consolidation and simplification. I am not familiar with the legal group other than they aren't growing. Even with a new CEO, looks like changes will happen late Q3 and Q4, as always.

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