Thread regarding Refinitiv layoffs

Brookfield rumors

I think 40 more from brookfield will be leaving by months end, good sorce

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Post ID: @X3Zd6XG

11 replies (most recent on top)

Any more updates on this? "Months end" is next week....

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Post ID: @X3Zd6XG-fdae

Right, Beta Systems. I was confusing it with the DTCC joint venture called Omgeo, that was divested to DTCC in 2013.

If I recall correctly, Beta has a very high customer concentration in Wells. Risky model.

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Post ID: @X3Zd6XG-8ozk

It was never called Omegeo. It was first Blunt, Ellis and Loewi, then BETA Systems, then became part of BNY Clearing (but still called BETA Systems, then (for a week) was called CapMark, then was bought out by someone else but kept the name, then Thomson Corporation, then Thomson Reuters (to which BETA Systems ended up losing its name and now it is Refinitiv (the lovechild between Blackstone and Thomson Reuters). I don't know where Omegeo fits in.

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Post ID: @X3Zd6XG-8gdh

I haven't heard anything but another person did verify they also heard the rumor from a reputable source. (not OP)

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Post ID: @X3Zd6XG-7mkb

Any more news?

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Post ID: @X3Zd6XG-6ksx

Brookfield Wisconsin.

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Post ID: @X3Zd6XG-4trw

Omgeo was the original name of the business there, I thought. Does clearing or something like that, mostly for Wells.

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Post ID: @X3Zd6XG-1kgx

Yes Brookfield wi

Not sure what omgeo means.

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Post ID: @X3Zd6XG-1ruv

Brookfield WI or somewhere else?

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Post ID: @X3Zd6XG-1one

Brookfield is Omgeo right? Isn't that business over 60% Wells?

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Post ID: @X3Zd6XG-fdy

My guess would be mostly customer service type people? Maybe QA? If they gut another 40 people this place will be like a ghost town. Where did you hear this info? Manager?

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Post ID: @X3Zd6XG-szk

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