Word on the street is in Canada, there will be an announcement today. What it is, we still don't know.
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Its a new subsidiary of a company called Key Media. Why a company that only has 30 employees in Canada would need to create a new subsidiary for this acquisition is highly questionable and hasn't been explained to any one.
Yeah thats really weird what could it mean do you think ?
Why doesnt anything come up when I Google HAB Media? Sketchy hmm
Te's advice is good. 10 days isn't a long time to make an informed decision, especially when so many of the questions remain unanswered. Whether you accept the offer or not, view this as notice that you need to get to the next stage in your life as quickly as possible.
HAB is more profit-oriented than TR. While you may think that your wages are bad currently, your job can likely be done cheaper elsewhere. The vast majority of content and services (like design, editorial and marketing) are outsourced to other regions. A template is then applied in each country by relatively junior staff. Expect our products to be ported into this model. If you go with the sale, go with the knowledge that this is likely a temporary thing for a lot of people. Don't let severance be the handcuffs that prevent you from taking charge of your life and proactively moving into what you want to do next.
It's been a pleasure working with you all. You've been a credit to TR, and will no doubt be remarkably successful at whatever comes next. This team has had good humour, integrity and has worked incredibly hard right through to the end. I'm humbled to have been part of this group.
It is a big disappointment. No matter how much they sell you the c-ap that they care about their staff its all garbage. We are just numbers. I'm part of the Media team who just got sold and I have seen great people with 30 years plus of service for this horrible company and all this was thrown in the garbage and they were offered 1 week for every year so that's not even 1 full year of pay for all your career and the second option is take an offer with some company that doesn't seem to exist which is making things even more suspicious. Bottom line don't waste one more minute of your career under Thomson Reuters roof. Look for something else because no matter how good or dedicated you are, you are just a number that will wake up one day and find that you wasted all your career/life for a company and people who don't care about anything but how to get the next new Maserati even if that is on the cost of lifes and careers of great resources.
10 days doesn't feel like a long time to make an informed decision about what the heck to do. My advice is for this department is to keep up the job search and GET OUT quickly.
I'm one of the 'stooges' to be affected. 'Stooges' because that's how we're being treated. To think that the senior executives can get up in front of 57 people who put their life into their work and be told with a smiles on their faces that we've been sold and every one has job 'offers' - not 'jobs' but 'offers' is ridiculous. And then to be told we get a statutory severance package if we don't take the offer without any consideration for the people who have put decades of their lives into their jobs. Watch out people - TR doesn't give a S**T about you.
To answer a question from an earlier poster. The Media team produces magazine, newspapers, websites and e-newsletters, as well as all of the marquis legal, HR and OHS events in Canada and the Canadian equivalent of Super Lawyers. It also used to represent Findlaw until that was gutted in late 2018.
Unfortunately the happy message projected to the team from TR management, and subsequently to everyone else in Canada, has turned out to be a crock of B-S. The expectation is that a large number of employees will be laid off in the next few months. The packages appeared equal at first look, but after digging there's a huge amount of differences for the worse. Its a sad way to treat employees, some of whom are significantly impacted by this transition.
What is the name of the new company?
I think the company is standing on very unstable ground for the employees who knows nothing about what is going to happen in the near future....which means most employees... how can the employees put their life in jeopardy like this day after day until the company decides today is their last day...basically this is just slow death...
What exactly is the media team in Toronto? Is this a division of TR? And who is the purchasing company?
When does the transition take place?
It seems very clear that Thomson Reuters wanted to be able to tell employees that "every single member of the media team has a job." It's b---s---. It sounds like they did all these employees a favour, when in reality most of them will be let go in the very near future with very non-generous severance packages. But hey, it's not TR's problem anymore. Wash their hands and walk away.
Everyone has been offered a position with the new company, but can take a reduced severance package if they don't sign. Problem is, while everyone will be offered a position in 10 days, the new company has made it very clear it will review all products and 'synergies' and that this may (will) lead to staff reductions.
Not a hoax. Media is gone!!! Who is next? Why would ppl think this is an April fools joke is beyond me
Yes, it's been announced. Media has been sold. The announcement said that all employees have been offered positions with the purchasing company. Whether or not the new positions are similar to the old ones remains to be seen.
Sick April Fool joke. Canada is the tech hub of TR. Nothing is going to happen.
SOLD
Is this a hoax? No news yet of anything.
Something is happening today. The media team at Kennedy Road have been called to an 11 a.m. meeting. The not-so-well kept secret is that the entire business unit has been sold. About 50 to 60 employees impacted.