Thread regarding Thomson Reuters layoffs

As an almost 20 year employee who left (voluntarily) several months ago, I saw tremendous change during my tenure there. There was less and less regard or even acknowledgement of the actual work getting done and who was doing it. And more and more constant re-orgs and new plans. Also, less and less real importance put on accuracy of the content. Managers were chosen for their LACK of understanding about the actual work and because they were someone’s favorite of the week to promote. There was alot of talk about the value of accuracy and timeliness of the content, but when it really came down to it, there was no understanding or willingness to actually put any resources into it. Employees felt more and more like chess pieces being moved around and discarded in spite of their knowledge base or expertise. There was little documentation of how the work was actually being done and how to keep doing it so when people left, all that experitise and knowledge walked right out the door.

Not to mention they are making literally billions of dollars off the backs of hardworking people who made them successful and how do they repay them? By laying them off and eliminating their jobs. They aren't doing this out of financial need. They are doing it to make more money by eliminating labor or hiring cheap labor. Americans cost too much for the fat cats to make their billions so they cut corners by sending the jobs overseas or rehiring the terminated employees as contractors to avoid paying benefits. It's disgraceful, it should be illegal, and yes people are p-ss-d and fake it personally.

No they haven't always handled it through attrition. There have been multiple layoffs over the years. Closing locations is not attrition either. Neither is sending jobs to India, or IBM, or JLL. The reason people take it personally is because when the company acts the way it is acting, it makes us wonder if they know what the hell they are doing. For years they told us we could work anywhere through the power of technology, and could work with other teams in India, England, etc. Now they want as many people as possible in one location, Eagan, sorry, MSP. People's end dates are based on their job title, not the actual amount of work they have or do. Rick King is a total id--t.

"I see a lot of people taking things personally and getting angry because they made it all about themselves."

We're just riding the mood elevator into the basement.

Dawn is horrible

@2ybg is an a--hole

Yea, social justice warriorism is the real issue with company, said the guy who spends his time on Twitter echo chambers. Most of us are just trying to good number, ignoring the diversity charalatans and social proof, charity promoting tools on the Hub.

Since the c-suites and fianance teams didn’t take useless gender equity classes in college how did they manage to get a place with such bloated personnel levels with so much dead weight. Why did they keep so many do-nothing WFH employees, toxic co-workers and people out on disability for a year etc while at the same time getting rid of highly dedicated and super proficient folk? Why is there a new vision every year where another marketing guru comes up with word salad variation of being nimble and customer focused.

Many of you guys, with the “we are the most important asset” bs fail to realize that this asset is not needed if no one wants the products. Now i get that the products are going to stink without good employees, but if the market for said products is stagnant, you need to find different markets.

Also, and you know this, TR has way too many people. Way, way too many.

Lastly, although employees may, if they are good, be an asset, they are by far also the highest cost. I know they dont teach that in your gender equality classes, but its true.

That's true that I haven't worked there in a few years but all the comments here are the exact same comments made by some employees when I was there. We went thru the same issues that you are experiencing. But you are closer to the end of the road than we were. They are reaching their long term goal. I'm not trying to dismiss any of your personal feelings about losing your job, I had the same worries. Fortunately it worked out very well for me. I just don't have bad feelings about TR because I kept my personal opinions separate from the business reasons. I understood that things that were not in my favor were in the company's favor. I can't blame them for that. The only thing that I will never understand is why Thomson acquired Reuters. It seems they were at the top of their game and then went downhill very fast after that acquisition.

Every action that the company is taking can be seen through the prism of reducing headcount, cutting costs, and preparing individual business units for sale in 2020 and beyond.

The new comp plan for sales reps is divisive. Several experienced reps with product knowledge and industry expertise have fled, are fleeing, and will continue to flee this sinking ship.

The plan does not pay out commission monthly. It postponed commission and bonus until later in the year. This is by design so that as reps continue to leave the company for a multitude of reasons (all driven by poor management of the company), they will not have to pay them their commission. Yet another cost-cutting measure.

The bellweather or tipping point for many is if, and when, the bonuses are disclosed. If they plan on hacking that to the bone, that will make the steadily-flowing attrition rate turn into the Niagara River’s rate of flow right before the falls.

They assume people don’t have other options. They also assume that customers don’t know what’s happening behind the scenes. They’re wrong on both counts.

You’re wrong. They had targeted layoffs in the past. Now they’re pushing changes they with a bulldozer, counting on more employees to quit, hoping to drastically reduce costs before selling off parts, dismantling the company,

Agreed. You can’t really comment on today’s circumstances when you worked there several years ago. Believe me, things have changed quite markedly over the years at TR, and unfortunately not for the better. A good company is one who realises that its staff are its most important asset and treats them well and not like they are expendables.

It's nice that you have nothing negative to say. But if TR laid you off "a few years ago," you really don't know what it's been like to work there recently.