Thread regarding Refinitiv layoffs

More layoffs this week?

I heard it might not be done yet after all, is this true?

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| 3824 views | | 11 replies (last )
Post ID: @OP+162G6pAX

11 replies (most recent on top)

Look, we've been told this isn't about the LSEG deal or Covid-19, and that's correct. The $650m run-rate cost saves were baked into the financing of the Blackstone deal. They have to be in place before the LSEG deal can happen. So, when you've shut down datacenters, and moved all the jobs offshore, what have you got left? Throwing out the institutional knowledge and embedded expertise to hit the numbers. What's next? Dealing with modernisation and technical debt. Who knows about these legacy systems. Oh. Oh dear.

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Post ID: @fbic+162G6pAX

Not until the ties to Jeffrey Epstein are disclosed.

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Post ID: @5pcm+162G6pAX

I'm sure once the LSEG sale is complete there will be a huge axing of "redundant" employees.

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Post ID: @2oyi+162G6pAX

It all depends what the current consulting firms tell the company. Beautiful business that resumes structures every few years and advises restructures every year and make huge fees from the company (thanks shareholders)...

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Post ID: @2who+162G6pAX

This year’s layoffs are only window dressing for the LSEG deal and short term cost k–ling to meet the KPIs... n’est year will be another wave to “simplify/streamline/rationalise/whatever corporate b—s— verb” in line with the LSEG organisation and strategy - if any.

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Post ID: @1mmr+162G6pAX

If not this week, wait 12 months. Like clockwork for the past decade (or longer).
Pretty poor effort that a company has a regular "restructure". The only people that benefit are the big 4 consulting firms and those who have prtected themselves by hiring the consultants.

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Post ID: @1epc+162G6pAX

"It's never over" is probably the right answer in the end. But based on the many, many rounds of layoffs I have witnessed in my long career here, I think the intent would be to have them done before the town hall Tuesday. Not thrilled that I'm so lucky to be in the last batch having to wait a whole week and over a weekend. But maybe hope that today is the last day? But never sure, because indeed, it is never over.

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Post ID: @wlw+162G6pAX

I haven't heard anything but I've got a bad feeling in my stomach. They laid off a lot of good people with a load of experience, don't see why they'd be done already.

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Post ID: @lme+162G6pAX

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