When do they come through? Any rumors of how much, when and where?
8 replies (most recent on top)
As expected,,,, there will be cuts to hit the huge savings number that LSEG have stated to shareholders. Wonder how effective unions will be this time. Useless last time and all the times before. Call to action please unions, we need you more than ever before.
News is the deal has been passed today by regulators.
And so it begins :-)
Think about this, LSEG is something akin to a public service utility. The line that has been sold by BS / Refinitiv is that all of the market intel and innovation from RF will improve the overall new LSEG business rather than the other way around. Sold as expertise, innovation and talent will come from RF. RF mid management have also been sold that it’ll be a reverse takeover and David and Deb will eventually run the show. While previous comments make sense, reality around the evolution of Reuters / TR / RF tells you the same lifers will remain and run the show. A real shame.
@hyzo - totally agree. Cronyism has been widespread over the years. For a lot of these people they have been there for years, talking a very good game, delivering nothing but constantly promoting how busy/important they are. Somehow they seem to survive and never get called out.
I thought change would happen after the TR / Refinitv deal, but it didn't. However, change is definitely on the horizon and these people will get caught out if and when they have to leave Refinitiv, and find new jobs. For many that have had a comfortable ride for 15+ years - it will be a big wake up / realization call.
For those that survive any layoffs, they will have to prove their worth.
Rest assured LSEG will not tolerate many of those incompetent Snr. Managers that should have been weeded out after the TR to Refinitiv deal. Their behaviour will also not be tolerated.
Many have survived because they have had protection/support from above ( not because of their abilities. or what they add). As that protective circle reduces they are now recognising that they are now more vulnerable and at risk.
Look around... take the redundancy, have a holiday and then present yourself to come back. Seems to be the norm. Great to get a payout and then head back for more.
Of course there WILL be layoffs at the LSEG deal. Wait for H1 21...
None of these questions matter. First, ask yourself whether or not your current position is redundant with one in LSEG, and who performs that same work for LSEG. If your answer is, there are existing jobs in LSEG, and/or they're outsourced (esp to low-cost destinations), then you have your answers. If you live and work in the UK or EU, then you may have a redundancy package that is worth a wait-and-see approach. If however you live and work in the US, then you're "geographically undesirable" and should be looking elsewhere. It's no secret. No need to speculate here.