All this lay-off and RIF is worrying. Is this a good time to join Thomson Reuters full time in any role at one of the hubs (Dallas/Toronto/MSP)?
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Agreed with everyone here that TR is a sinking ship. They're stripping off all the assets that can still be sold until maybe they're left with Reuters, which seems to be oblivious to the gathering storm. Just look at the nonsensical projects that Reuters seems to be engrossed with.
if youre eager to do the job of three people for barely the price of one, thomson is great for you.
stay away. if youre qualified enough to get hired here youll find something better elsewhere.
agree with those who say the ship is sinking. after last years layoffs theyve made it clear no one is safe and itll have nothing to do with your performance or even priority of projects. they laid off people in the middle of critical projects and the void left by rochesters closure causes handfuls of talented staff to be ripped away from the middle of other time sensitive work without warning to their teams.
its a disaster. they know it. and now theyre just hoping to cash out before the rest of the world catches on
@3mst - You stayed with TR for 20 years? That's a pretty long time. Do you see that TR is only interested in divesting? If TR divests Legal, Corporate, Tax etc. then what will it be left with? Reuters, which doesn't make much money? Is Thompson family that naive to sell what makes them money?
I experience all these stages in the past 20 years: Smart, Agile, Fast Forward....sold F&R to BS....What’s next? Speechless... It is sad to see a great company come down to this
I work in a tech role and made the earlier comment about TR being a sinking ship. Everything is getting offshored or outsourced. It is nearly impossible to get things done. I would steer clear of TR.
@2qdi - In Rochester NY, a significant chunk of development and testing was shipped off to Bangalore, India and epam (Russia) about 3 years ago with the promise that new projects would come in. They never did, and now the site is closing. If I were looking for a new position, I'd steer clear of TR until the dust settles. It's anyone's guess how they hope to accomplish being an industry leader while hacking away at their skilled staff and sending work offshore (which has been proven to have a significant reduction in quality). The staff that remains isn't too happy and likely won't stick around.
How is TR for tech roles? Are engineers, developers and product managers getting laid ofc at “hubs”?
MSP content op teams had takers on the voluntary separation. I believe many were close to retirement.
Ssy2. It was in Toronto.
In which location did they have 7 offers for the VSP? I didn’t hear anyone in Hoboken taking it?
I'd not relocate for it or leave a job you're otherwise happy at, if I were you. But if you are in the area and just starting your career or currently unemployed? Sure, why not
Thomson Reuters is a sinking ship. Joining TR now would be a horrible idea.
I understand they had seven applicants for the Content Ops voluntary separation when they wanted to reduce headcount by five. We’ll see if they accept all seven or turn two down for the sake of the workload/business. (Ha)
@1yvz - Were you in Corporate? Legal?
I keep hearing about new focus on customers, agile and delivering wow products. And, I wonder what was done before? Is this mere lip service by management so that people don't jump ship and they can attract talent?
I'm being laid off after a little over a year, with my job going to an outside consulting firm. Good pay, good benefits, fair severance... but if you're looking for something stable and long-term, you should go elsewhere. The rah-rah team spirit stuff you're fed daily in emails and company websites is totally disconnected from reality.
Excellent reply DDF but you forgot healthcare, newspapers etc. A leopard doesn't change its spots. They may be "confirming" data btwn TRTA and Legal to make them more attractive to sell. Time will tell.
Just be ready for the next reorganization and the next round of layoffs. They come on a regular basis, especially around Thanksgiving (happy holidays!). Be willing to act excited about changes that make no sense and are merely cost-cutting initiatives spun to be "smart" or "agile" moves. Be prepared to lose sleep worrying about your job. Oh, and be ready to regularly say goodbye to colleagues whose jobs are eliminated, seemingly for no fault of their own. If that sounds fulfilling, come join us!
Are you young? If you are 50+ stay away. If you are in 20s or 30s, you may take the risk.
How good are exit opportunities from Thomson Reuters?
You want info that parts of the business are going to be sold off? Really. TR is a holding company and if that’s not enough proof, just look what’s happened in the last few years. IP & Science - gone. F&R - gone. What’s happening now pretty much mirrors the 5 year F&R show prior to Blackstone acquisition
"Therefore thus saith the Lord, Behold, I will bring evil upon them, which they shall not be able to escape; and though they shall cry unto me, I will not hearken unto them."
Jeremiah 1111
Everyone is running for cover now. They still work here not because of a promising career, instead it is for survival. Getting the paychecks to pay the bills. If you see future in a company like us selling this and cutting that and you find this exciting. Then Join us! Otherwise, find a company which instigates growth.
If Legal is a prospective sale, why on Earth are we looking to confirm Tax and Accounting’s data to Legal’s???
What info do you have that parts of the company are going to be sold off? Rumors or any real facts?
Nope. Run fast.
This company is expected to sell off all remaining assets in about 2 years. So, your days there will be numbered. The rumor is that the Legal business will be sold off next year, which may trigger massive layoffs again.
If you want to join a sinking ship with a crew that doesn't care about your survival.
Darwin fail