according to the very insider info, David Craig who has been the president of F&R will leave in Aug 2017. and debra walton (currently chief product officer) will replace him. the business has struggled to grow since last year and most growth is due to cost cutting and combining legacy products. When all those short-term measures are completed, the business can't find any ways to "make up the number". After David is gone, it will be the time with good excuse to have a massive layoff - targets are getting to the Revenue / FTE of Bloomberg (TR is 2x of BBG). To prepare for the massive layoff, some salespersons have already received the PIP which means they will no longer be entitled to layoff payment and long-term service benefits.
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David Craig is still in charge, but the results are not better than earlier this year.
is this for the Eikon product? the loss of market shares? if there are more cuts to the corp, anyone care to hazard a guess at which arms of the company? media? tax & accounting? Finance or Legal?
Did this happen?
Revenue still keeps going down. Losing sales, losing market share.
2018 will be a brutal year - yet, we are still in 2017 so there will be more cuts.
Tomorrow (Aug 1) will announce the news! Revenue is going down.
This looks quite feasible as the business of F & R has remained flat for many years and only way to show growth in profit (EBITA) is to layoff . We hear even Bloomberg has been cutting its Sales force and focusing towards R & D. It's true that TR (F& R -USD 6 Billion)has 2X manpower compared to BBG (revenue USD 9 Billion) and we were hearing that David Craig would be leaving at the start of the year , so this could be true now !
Very interested to see if this comes true.