Thread regarding Thomson Reuters layoffs

@finr+1a6TMvOf excellent analysis with one addition to "the only people left" - there are good people actively searching and interviewing for a new job who find it better to continue working during the search, and as soon as they find a replacement role, they're gone.

The only people left are the ones that either can't find a job, or have a really sweet gig, and holding on until they are told to leave with their severance. The mass exodus in talent over the past few years is astounding. I watched people be forced out of the business by people not qualified for their own role, but had power for the first time to do what they want. What this proves is that TR believes that the business is commoditized, and that people really don't make a material difference, interchangeable. So what they do is purge the company of higher paid talent for lower cost alternatives, and understand there may be a dropoff, but well worth the reduction in expense. When companies take on this strategy they are making themselves lean and attractive to suitors, so don't be surprised if pieces are sold off within the next 12-24 months.

Toronto and Zug seem to be hiring scientists and executives only. It feels like this can help justify that the company’s leadership and IP sits outside of the US. Does this help with US taxes if most of the customers are in the US?

Toronto and Zug may be hiring, but if you think you have job security with this company then you are dreaming.

Toronto and Zug are the safest places. Hiring continues.

Completely true. CS manager roles are being eliminated or moved to Manila. VP roles posted only in Manila. Sales Ops facing the same. No respect for high-performing long-term employees. It is all about cost-cutting so Manila is where it will all go

@ainc+1a6TMvOf - Not surprised at this as I doubt many of the Management have a clue what their teams do ?

I've heard some colleagues have been invited to meetings and asked for details on their scope, etc. Sounds like "we need to know what to tell the offshore teams they will be doing."

@8lrv+1a6TMvOf - a huge number of SH-1 and SH-2 leaders have been (or are being) let go, and that seems to be trickling down. They may have been rising stars under the old regime, but to the new regime they are the old guard - and must be purged!

Has anyone noticed that more and more TR colleagues are announcing new jobs outside of TR? I’m seeing one or two a day on my LinkedIn feed. I’ve been surprised by some people that were considered rising stars. Are people jumping ship?

Any rumors on who will be next to go?

Two more senior leaders with strong legal industry credibility left this week. The company is losing serious industry domain expertise and the bench is not deep. I hope TR rebuilds it fast for the sake of our customers.

At least 4 of the top Legal software leaders voluntarily left since January. Are there more departures coming? Voluntary or RIFs?

Wow, that is a lot of folks, do you mean across all segments?
A couple of questions for all the good people reading and responding. A prior thread said that a number of key execs are leaving, many of them are within the Tax Professionals & Corporates segments. Maybe its easier to ask, who is left? and who should go? From a sub segment leader perspective I have some thoughts, curious what others think.