Thread regarding Refinitiv layoffs

3XSQ is going away - notices in Sept, execution by December

3XSQ is going away - notices in Sept, execution by December.

When I say 3XSQ, yes, all in the NY office.

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Post ID: @YtSTXKr

92 replies (most recent on top)

Anybody hear anything for the Eikon L2 guys?

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Post ID: @YtSTXKr-zfdq

Anybody hear anything for the Eikon L2 guys?

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Post ID: @YtSTXKr-zbaw

They even layed off the mail-room guy in STL. How sad.

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Post ID: @YtSTXKr-xdyv

Not all at 3xsq. Lease up November 2021 and have recently reaffirmed but there will be additional floor consolidation and leaseback. ELT looking for office in CT. Certain product teams lift and shift to overseas. SAM Client facing roles will stay but WFH and use the Customer Centers for client meetings, demos, negotiations and industry events as well RFT board meetings

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Post ID: @YtSTXKr-uwtq

how many were notified in London? Any insights regarding specific teams?

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Post ID: @YtSTXKr-uvjt

They were all notfied with an end date beyond a few months. I wonder how they do count on years of services for the package.

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Post ID: @YtSTXKr-unyw

Forget June, a bunch got the axe today, well, at 3XSQ anyway. KYC, Eikon, etc

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Post ID: @YtSTXKr-teir

150? All in London?

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Post ID: @YtSTXKr-tfqp

How many going in London ?

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Post ID: @YtSTXKr-tsus

Announcement happened this am

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Post ID: @YtSTXKr-txhi

Announcement happening in London, early June been told by senior leader.

Currently looks like KYC cuts, client managers, consultants, BDMs etc

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Post ID: @YtSTXKr-tmgg

I heard a small cut is gonna happen in June. About 150.

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Post ID: @YtSTXKr-svgi

It is toxic! I know my manager in London is brewing something, suddely being super nice to us.

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Post ID: @YtSTXKr-qhhq

I thought we were “crushing it”, and “closing deals” like there’s no tomorrow?

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Post ID: @YtSTXKr-pidz

Mostly NYC, right?

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Post ID: @YtSTXKr-pgdd

Nice try DC

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Post ID: @YtSTXKr-ovgx

Which group and where are you guys located? NY, London or elsewhere?

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Post ID: @YtSTXKr-oeyh

I'm also hearing September from my group.. very unfortunate. :(

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Post ID: @YtSTXKr-odhr

Rumor has it. my team is gonna be gone by Sep. what a way to celebrate my new home. Unbelievable!

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Post ID: @YtSTXKr-ojup

@icuo - Manila will most likely be support since they are the better English speaker than BKK and Bangalore. Bangalore will be engineering and most of infrastructure/devops. In any case, rest assured they are doing the needful.

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Post ID: @YtSTXKr-khxk

They will be closing down soon as well... just matter of time.

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Post ID: @YtSTXKr-jova

Among Bangkok, Bangalore and Manila. Who’s taking over which functions?

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Post ID: @YtSTXKr-icuo

They work hard.. to do the needful.

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Post ID: @YtSTXKr-hiij

They work really hard though.

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Post ID: @YtSTXKr-hheh

Just finished a webex with Bangalore staff. Sigh

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Post ID: @YtSTXKr-hjtf

It is not fun to train you know where....

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Post ID: @YtSTXKr-hkgq

Is it bold? Yes!

Is it open? Yes!

Is it focused? Yes!

Is it so people can plan their lives around potential layoffs? Nah.

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Post ID: @YtSTXKr-ggdc

If this is true, we are talking about a lot of people! Why isn’t there some announcement being made? When will ELT say this is happening or not? It seems like some people are “leaking” this information because they are privy to higher level plans for the Company. Can this information be used to push for more information from the top? So people can plan their lives around potential layoffs coming.

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Post ID: @YtSTXKr-guyd

Which planet is this guy from? Is he from Bangalore?

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Post ID: @YtSTXKr-gvfz

” There aren’t any layoffs! This can’t be true!”

  • @gfue , on the day he was laid off
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Post ID: @YtSTXKr-gtqc

This cant be true! Please stop making false accusations and or spreading negative news on your office environment. Stay away from this forum!

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Post ID: @YtSTXKr-gfue

Can someone please help us with the rodent issue we are facing ? I saw some dropping near my desk the other day. I threw away my coffee mug and took all of my personal belongings home.

I don't even want to use the keyboard and mouse since god knows what might have crawl over it.

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Post ID: @YtSTXKr-gvbb

From what I understand, notices are going out September, with full execution/layoffs by December.

One thing that David Craig and his cast of clowns don't understand is, some of us could potentially move to a new company that might be a future (or even existing) customer of Refinitv and provide insider feedback as to how this company operates, and how support for their products is going down to sh--s down the road (since we all know how that will turn out in the next 12 months). There simply isn't a company that will invest money and time in a Refinitiv product that they know will be terribly supported in the very near future.

Data is just the beginning!!!!!

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Post ID: @YtSTXKr-gvve

WE all know what happen when you outsource some an important business operation to an offshore location with bad connection (you can barely hear them sometime), robotic response from a human who reads the script and most likely direct you to a different group. I am talking as an Employee.

Imagine how Clients Feel when they go through this headache with the $$$ they pay.

Somebody should knock some sense into it!

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Post ID: @YtSTXKr-goot

Sad, how do we come down to this?

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Post ID: @YtSTXKr-fqwj

So you are saying that people are gone by September and not December? When will people be notified?

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Post ID: @YtSTXKr-fwwb

Just got off a webex training session with you know where! Storm is coming to NY soon. I believe a good amount of staffs will be gone in Sep!

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Post ID: @YtSTXKr-fcgs

Bold and open.. like your mom.

FOH David

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Post ID: @YtSTXKr-ejyz

So who's going to be "bold" and "open" enough to train all the specialised ops and dev roles being transferred to Bangalore? Certainly not anyone being let go out of NY. Bangkok? Why would they if they know they'll be next? Seriously. This isn't a rumor anymore. Writing's on the wall. And I know a lot of people in my and other groups have already started to brush up on their skills and are looking around, some even interviewing, and that includes managers who are supposedly expected to stay until March. And with a shrinking NY team and clueless noobs in Bangalore, life will be hell for anyone who's left. Attrition will probably happen a lot faster than they expect. Or maybe that's their goal.

And unless they've been working under a rock, anyone knowing their days are numbered won't be waiting around for a joke of a two-week-per-year US package unless they've been with Reuters and TR long enough for it to be worth it or are close to retirement. They'd have to offer a huge stay bonus or at least six months severance to get anyone to stick around to train anyone in Bangalore.

Some bean counters probably ran the numbers to figure out whether saving hundreds of thousands not having to pay severance through mass attrition versus having dozens of cheap, poorly trained replacements in India scratching their heads in scrums, webexs or trts when things go south will do the least damage to their "delighted" client base.

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Post ID: @YtSTXKr-cwio

All is going to India, but over time. Employees in NY will be s---ed dry until attrition occurs. Heard again today from ELT-1. They consider NY office offshore because London are the main headquaters. Don't be fooled by the language used by DC and others

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Post ID: @YtSTXKr-cddl

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