Thread regarding Thomson Reuters layoffs

Whats next?

So what is next? People are dropping like flies. Either finding new roles or a new company. Why? Is it the work, the change or something bigger?

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Post ID: @OP+1aUFlTtY

9 replies (most recent on top)

It is really amazing what has happened to TR, I was fired right before the pandemic hit because I was not in a certain office, which didn't make any sense because I was in another large office with a good number of people in the same group. I knew I had no hope when my boss, who was very very good and very successful was fired also for the same reason. My last review, and the 3 before were all exceeded and our team was really successful, the only one in that group that was. I applied for other, exactly the same roles within the small/mid team and didn't get any, they took people from other areas still with the company over me. Same thing happened to others that I worked with, so we all basically just stopped, which was very sad, we enjoyed working together, we participated in all of the company events and truly felt like we had a home. Our bosses boss, made all of these decisions, because of no other reason than she could. She hurt so many families with this decision and ever since then this company has been losing so many people because of exactly these type of people. BTW, it was within the Tax Professionals group.

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Post ID: @2gkb+1aUFlTtY

The article is on to something. Just this month we lost at least 4 very senior people, beyond those named there, who led Elite, HighQ and Legal software.

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Post ID: @1cbs+1aUFlTtY

This article was posted in another thread. I thought it was overblown. From comments here, maybe it wasn’t.

https://legaltechnology.com/thomson-reuters-sees-double-digit-departures-across-highq-and-elite/

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Post ID: @omj+1aUFlTtY

No advancement opportunities for people not based in Zug or Toronto. Bonus paid at 70%, no promotions or backfilling, 80% of my network gone, cut off from decision-making and new “leaders” haven’t reached out to understand what I do and how I fit in their plans = time for me to go. I’m at varying stages of interviews with 4 competitors and plan to be out by July. I want to hit the ground running at my new place as soon as things open up.

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Post ID: @uzx+1aUFlTtY

A text book case of how not to run a company.

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Post ID: @vvy+1aUFlTtY

Watching the attrition and turnover has been staggering.

I left TR late last year after securing a new role with better compensation elsewhere. I predicted that there would be an exodus of people, but the reality of how many people have left is astounding. It’s not even the same company it was six months ago.

In the last two business days, 3 of my former coworkers - including my former manager - have left the company and are now working with direct competitors (as am I).

Someone mentioned the startups capturing a lot of TR talent and they’re not wrong.

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Post ID: @usq+1aUFlTtY

I counted 9 departures for just today out of my connections

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Post ID: @obs+1aUFlTtY

Being recruited away. Toughest job now for WF is to try to keep people. Job market is plentiful.

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Post ID: @mzk+1aUFlTtY

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