Voluntary “buyouts” announced for Hoboken and Dallas employees today. They need 5 employees from each location to accept the package. Last day would be May 31st. You get two weeks pay for every year worked paid out on your bi-weekly on the regular pay schedule.
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Which operations teams are impacted? Any word on customer 2 cash org?
Cutting the Operatiiins staff in Dallas
Why Dallas? I thought the plan was to move from Hoboken to Dallas, at least for the Tax and Accounting business? Is this post related to another division of Thomson Reuters?
Isn’t the 10% staff reduction ongoing through 2020? Maybe the involuntary offers are just step one to see where they then make involuntary cuts?
Let’s talk about this imaginary hole in the budget they’re plugging. How did the 10% staff cut not cover it?
Just waiting for the axe to fall while reading emails about Pi day, diversity iniatives, and TR-Dallas’ committment to moms to be.
It’ll happen when it happens. I live incredibly frugally so I’ll be okay in the short term.
I’m wondering how much of a product deterioration management is willing to take. We’re 1 and 2 in the product lines I work on. In some cases, there isn’t a good alternative. In many cases, customers won’t care if they get a pub three days later or there are more typos than usual. But there will definitely be a downward change.
TR is just doing what other orgs are doing. But there will be a rupture in our society soon. Automating and outsourcing our jobs. Insulin jacked up 9x. Housing and university up 300% in terms of purchasing power.
Generous. Very. Take it and rub
Distribution Centre
What’s the DC in Toronto DC stand for?
Toronto DC has been told it is being shut down Aug 29th is last day for 55 staff
There is no difference between the voluntary and involuntary severance packages. The HR rep was asked that question. They offered no incentive to not just wait in out and sit at a desk, collecting a paycheck, with lower morale.
They must be certain they can get the five or are giving the appearance of more transparency before making cuts involuntary.
Other than the "voluntary" part, how is this different from the severance package that I received when my position was eliminated last December? I got two weeks for every year worked up to a maximum of 52 weeks.
Maybe you’ll be asked soon enough :)
A week to decide is an awfully short time. I would have taken it if I was in better financial footing.
It’s quite “funny” how there is complete ghosting by so many managers and directors. They don’t give a **** and are just making sure their lifeboats are secure. I can count on my hands how many days my manager and director have been in the office since January. All they’ve done is redistribute work that was done by employees who were let go.
Ask me too!! If I was given the choice I would take it. Been at the company for over 20 years. Half of my team was laid off but we are getting even more work. There is NO direction on how to handle our work. And zero appreciation. You can pay me to leave!!
Ask me!
This was announced to the Analytical Content group in Scarborough / Toronto today. They are looking for 5 volunteers.
Not so long ago we were told that the company will be paying out the highest percentage of bonus $$ in a decade. And now they’re cutting staff. The logic is mind-boggling.
How do you know this?
If offered you should take it otherwise they will sack you at another time with a less generous severance. They have been looking to get rid of support staff in America as much as they can and ship it all to Hyderabad. I heard from someone who still works at Hoboken that they want 5 (not 5%) “volunteers” from certain departments that support Federal and State & Local editorial. I am glad my husband has a good job with the Government!
The specific number is only related to employees working in Operations in H/D not the entire location. Meeting invite was sent last nite for early this morning.
The number was decided to meet a specific budget cut.
At least they’re being honest for once.
Five is a weird number. Are you certain it isn’t 5%?
When /how was this announced?
Wow! That does not sound good for the future of the company. I thought Dallas was safe from layoffs.
I've been at the company in different location for a substantial length of time. If offered I would take it. Ship is sinking fast.