Thomson Reuters Layoffs

Wrexham

F&R look to be downsizing the Wrexham operations site with jobs being outsourced. No immediate changes however VEDaaS product is to be axed in favour of other F&R services offered.

"Many of you will have read the recent press stories regarding the savings planned and the structure of the debt. I know that the upcoming changes to our organization are very much in everyone’s minds and my commitment to you all is that we will be... read more

Thomson Reuters or Refinitiv

I'm thinking it might be a good idea going forward to mention in posts if your comment pertains to Thomson Reuters or F&R/Refinitiv (at least until a separate Refinitiv comment board is added.)

Pay cuts in addition to layoffs?

There is no doubt there will headcount reductions in the first month. But what if they are not just using the rooms for layoffs, but using them also to talk to about your about your role being "reclassified" or something like that. All in the an... read more

TCS wins large outsourcing contract from Thomson Reuters

Tata Consultancy Services (TCS) has won an around Rs 500-crore contract, which involves infrastructure management services and application development, from mass media and information company Thomson Reuters. From... read more

Layoffs elsewhere, Masterson, Legal and Tax

"Neil has been solely focused on getting capital distributions for the Thomson family. This is the final stage of dismantling the company for them and leaving only the news organization behind." In response this post earlier, he's in the business of... read more

Credit Quality?

...has nothing to do with it. The reason the Street is calling this $300M bond "junk" is in reference to the detritus the funding aims to finally clear out.

Had anyone had to reapply for their position?

Layoffs today started

Few layoffs happened today in TR ie non-F/R staff that stayed back in TR. Fairly senior staff have been removed. Is this true? Any other place affected? Also, folks, please put important info like this on top instead of burying it as a reply in a... read more

Only FIFTEEN people left

My whole office only has FIFTEEN people left! I know now that all my counterparts that are doing my job in the rest of the world have either been laid off already or will be by the end of this year.

Managers have no say

Looks like managers have no say in offices with massive amounts of staff (the consultation process would be too long, leaky). Small regional offices with limited staff is a different matter - some senior level consultations appear to have happened... read more

Older employees most at risk

The upcoming rounds will not be like anything we saw in the past. It will not be base on performance, but more likely time with the company and how much you earn. They will be looking to purge anyone that can be replaced by outsourcing or a recent... read more

New Finance Announcements

Lots of VP's putting their life jackets on at the moment

Can I volunteer to be laid off?

Honestly, I'd consider that a life line. I want off this ride. And if me volunteering could save somebody who would actually want to keep their job here (as much as I can't understand why that would be the case,) than even better. So why aren't we... read more

Layoff updates please - hr folks please share details here (it is safe)

Just everyone want to know if they are in the list or not.. with the suspense and axe hanging above your head has hard hit every one reduced to zombies.. working like zombie When is that f---ing layoff happening -- any HR folks welcome to share

Payouts may turn into layouts

You all understand that all those juicy severance packages can change at any time? As long as they change them across the board and for everyone, they can change the policy...

F&R staff

Post any updates in this thread

Severance

For ex Reuters people with service more than 10 years, when being let go, they will enjoy 3 month garden leave 3 month payment in lieu of notice 1 year of payment of last annual compensation 15%* 6 month payment for severance package Employee... read more

https://twitter.com/TheLayoff/status/1040679347420450817

Legal restructure

Big announcement expected tomorrow related to consolidation in the legal business. Large volume of layoffs expected this fall in account management and sales operations , and smaller amounts in marketing and product organizations.

Refinitiv dns... its called redirect, id--ts

Cant you id--ts even setup dns? Your super awesome new name doenst even resolve Must need a new process, 20 pms, and dickie craigie to sign off.. 6 months of time for 30 of work.. or maybe the dns guy was laid off

Attrition

How many people are leaving your team every day? If it's as close to the number of my team, then I can't figure out why Thomson Reuters would even need layoffs at all. So many people are leaving on their own. I guess everybody is seeing writing on... read more

HR booked conference rooms armageddon

What ever happened to this? Updates please

Jim Smith to step down and Neil Masterson to be named new CEO of TR

Most probably this will be anmounced on Oct 1 following the official split

laid off and severabce package for Ex-Reuters

signed with reuters contract around 16 years ago, i can tell it is way more difficult to let someone Ex-reuters go than thomson reuters itself. sanjeeve chatrath comes just 5 years and already being laid off, a bunch of his underlings, kimberley... read more

8B buyout loan, 400bp over libor. Hold on to your butt

Hahaha, read the article below. Loanpriced way over libor, and making bets on headcount and infra cost reductions (heard that like 10 times before)... when BS finds they cant make infra reductions the headcount is gonna go bye bye Let us know what... read more

Refinitiv Rofl stupid name

I know this isnt new news, but we need to talk about this... What a stupid, meaningless name, and what typical TR press release “based on customer feedback”.. Yeah my a-- it was. Wtf is a Refinitiv anyway? Wtf am i refining based on useless FR... read more

10,00 jobs to go

Fact: word is from reputable internal sources (HR, finance, senior management, tranformation team), that 10,000 F&R staff will be let go from October 2018 onwards until the rationalisation is complete - expected in 2019

layoffs when - End of September or post 1st Oct

As it turns out, the mass (read mass) layoffs will likely happen post handover as liabilities would be on refinitv books. they may forgo some severance package. The exercise has already been done and all errant / disliked are earmarked. All the dumb... read more

Firings - When?

I bet on it happening in Sep, rather than Oct. Any guesses anyone?

The truth hurts

Tom Glocer and Devin Wenig with their millions of $ were the downfall of this once great company. The systematic replacement of experienced relationships with up start MBA students with zero experience and worse still, zero relationships. We meet... read more

unrealistic management

many cancellation, layoff, and people was let go in droves and the management in my asian office keep mumbling about homo, g--, les and slavery, human rights, woman right, risky women, do they even know what is going on ? lucky that i am the only... read more

PMs and SMs

Looks like this is endemic in many orgs. Just like Six Sigma days going back 10- 15 years. Here is from Qualcom post https://www.thelayoff.com/t/UJl3rUu qcom creating more PMs than innovators and engineers These days qcom has become good training... read more

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