Thread regarding Thomson Reuters layoffs

while the payments for sales are made in workday, the calculations are done in a different system - the issue you are experincing is TR was built from a massive number of acquisitions over years and they did an awful job of integrating back office systems. Then when a run at it was done, each business still operated on it's own, and therefore each CFO wanted certain calculations for sales, billing, etc done how they always did it - so even on one SAP instance, the nuances below that are all different - and then there are still so many not on the same sap instance - so a mishmash of data is what happens and they don't want to take the hard stance to drive commonality or spend the $ to fix it.

I started at Thomson Financial in 2003, which become TR in '07/08, which became Refinitiv in '18, which became LSEG thereafter.
I retired last year.
My nickname for the company was 'D-mbo', due to all the d-mb decisions over the years.
The TR pattern is to hire then fire, over and over and over and ...; a revolving door.
Just my opinion - the company is dead from the neck up - thanks to the lack of leadership by the Woodbridge - the Thomson family investment vehicle.
They family members are not in agreement with continued investment in TR because it continually underperforms.
That results in the mandate for TR leadership to "earn" its way to new investment.
In hindsight, David, who kept himself busy impregnating Hollywood actresses, was wrong and his sister right.
They should have dumped the company years ago and invested in the SP500.

It’s a good place to bide your time while you look for something else or get your own hustle off the ground. But making a career here? 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

How do we opt out of those cringe anniversary yearbooks and giant metal door stoppers ?

TR used to be a good company that seemed to care about its employees and creating good products. Then about 10 years ago a series of bad decisions were made by senior leaders and it just started getting worse and worse, and really decreased rapidly over the past 3 years. The decision to allow McKinsey to take out the middle manager layer was one of the most damaging blows to the company in my opinion. The annual layoffs started in 2006 and they just keep increasing each year and are now more like twice a year. They don’t even pretend to care about the employees anymore and everyone is beyond stressed and miserable. Getting laid off after over 20 years su-ked but I feel so sorry for the poor employees still there.

Yes, Sales bonus/compensation are in Workday.
However, the sales bonus/compensation you receive is based on Quota attainment. True?
So without quotas, what’s in workday is nearly meaningless.
Also, if a company was transparent when newly hiring you and said, “we’ll have to let you know in maybe 4-6 months, what a third of your income will be if you do your job right.”
Wouldn’t you find that strange??

Are you in TAP sales by chance? The compensation thing is ridiculous. Basically we had someone really awesome who left a few years ago because they were tired of the nonsense and the replacement is just in over their head. But also combining software, content, and now newer products like SurePrep and is just a mess. When we have managers with 30 years of experience leaving it shows that stuff is messy. I hope the new leadership is as good as they promise to be.

@mmh+1rRI36Vv while I am not the original poster, I believe this is based on goals/bonus/commission.

Final numbers here are never really figured out until almost 6 months into the year.

They just go off of best guesses until those numbers are finally tabulated off of the antiquated excel sheets. And then after any “adjustments”

It takes a while to count via an abacus

So nobody really knows what their payroll goals are if they are in a variable pay plan.

To the OP, it has been this way since I’ve been here.

New systems are built, but it’s only upon a foundation of sand. Garbage in / Garage out.

Fun fact, even those at the top have their pay determined with error prone excel sheets.

It’s not malice. It’s just incompetence.

TR Alum with over 10 years experience. It’s been a while since I left for a client, but this sounds about right. The emperor is still walking the red carpet the first Monday in May.

" it’s April and people don’t know exactly what their compensation is and management seems to feel no urgency in providing it,"
I don't know what that means. Not arguing with the rest of your post but compensation statements are supposed to be online in Workday already. Why isn't yours? Then again, I don't know how your compensation is structured b/c I have no idea what business unit you are in.

You’re not alone in your observations. I’ve been saying for a while that most if not all of the old products are made of toothpicks and sp-t and a prayer…. They are not investing in the old products that are making them money and customers are starting to notice.

OMG! The HR Ladies and Men who troll here are going to be upset with these posts.

It's a horrible place to work. Your comments are right on target but add:

constant reorganizations (rearranging the deck chairs on the Titanic)
layoffs each fall and other times as well
too top heavy: lots of incompetent chiefs, few Indians and they are abused

The Titanic would be a better place to work. Abort! Abort!