Thread regarding Refinitiv layoffs

Second round has started at 3XSQ New York

Pricing service lost another 3, hearing a few here and there elsewhere. Is this going to be a stealth round??

anyone else seeing cuts please add...

by
| 3813 views | |
Post ID: @XNEuXal

19 replies (most recent on top)

Sad to hear @XNEuXal-Gveb. Now, without being too specific, can you shed more light on which part of the organization your team is aligned with (Product, Sales, Cust. Ops., etc.)?

by
|
Post ID: @XNEuXal-Gtyl

Our team will only be here until December. Rumor is, we'll be given notices by Sept.

by
|
Post ID: @XNEuXal-Gveb

I wonder if it has anything to do with rearrangements of teams that are going on.. Some teams are moving between floors and buildings in 3XSQ and Hoboken. I heard that not everyone got a cube in new layout.. some were offered "hotelling" others I being RIFted, i guess..

by
|
Post ID: @XNEuXal-adel

Just said goodbye to someone leaving today.... sad!

by
|
Post ID: @XNEuXal-akkg

Why? Does it matter? I was promised a title promotion without any concrete benefit. Actually, it is a relief for people who receive a package now.

by
|
Post ID: @XNEuXal-4qsq

Please share locations. Want to know if cost location is the factor

by
|
Post ID: @XNEuXal-4fzc

Can anyone provide more specifics regarding where you're seeing movement (e.g. NY, London, etc.)?

by
|
Post ID: @XNEuXal-4too

500? That's a lot. I assume it is global. How can people be productive in this environment?

by
|
Post ID: @XNEuXal-3qmo

Heard 500 for this next round. Pretty good source. No details on locations.

by
|
Post ID: @XNEuXal-3pxw

One sits next to me was notified today

by
|
Post ID: @XNEuXal-3xrz

So many fancy titles at this work place. VP, Director, Manager of this and that, Global Head, Head....

by
|
Post ID: @XNEuXal-3fwe

Remember that a lot of this is being driven by location strategies and cost savings. Not the fact that Mary from 3 offices down reached a milestone birthday.

Cost savings get generated when you lay off folks with higher salaries and consolidate mid level positions. People in these roles logically would also tend to be older, but age itself has honestly not been a factor in any of the decisions I've seen being made first hand. Young high earners are as much at risk as older ones.

by
|
Post ID: @XNEuXal-2oms

It is true, it’s happening!

by
|
Post ID: @XNEuXal-2hgh

Somehow I can't quite agree with the last post. There is something strange with the productivity outlook on some of the staffs.

I am sure there are many people who are dedicated to the company and contributing to the growth of the company. But and on the other hand, I also see people spending time shopping on the web or just watching Youtube all day long. It is productive that counts the most.

Therefore I am sure AGE is not necessary a factor on deciding who got let go. It is timing, the value you contribute and luck (if you are on right position at the right time). Good Luck!

by
|
Post ID: @XNEuXal-2gsb

Just throwing in my 5 cents. I noticed there are some similarity on the background for the folks being impacted.

  1. Been with the company 10 plus years, not necessarily with a management role.

  2. Usually over 40s , flat performance over the years.

  3. Mid to Low Level Management, compound or duplicated layers.

  4. Teams with initiatives to save cost, and achieved their goals.

Again, just my 5 cents

by
|
Post ID: @XNEuXal-1esd

I know one of the Pricing Service people let go yesterday. They had been at the company a long time. What I want to know is what criteria is being used to let people go? Is it high cost centers and people with longevity? High cost centers and people who work remotely? Is it people over a certain age?

by
|
Post ID: @XNEuXal-1cfq

Please provide what you know if instead of what you think might happen. We are talking about people’s jobs. Not a guessing game. Be specific, please.

by
|
Post ID: @XNEuXal-1ahv

This time it might get rid of some of those Finance laggards who have been lingering around for years.

by
|
Post ID: @XNEuXal-1pem

I heard a lot of talk regarding a round in March as previously rumored.... not as big as the one last Oct. Hang tight!

by
|
Post ID: @XNEuXal-1odt

Post a reply

: