Thread regarding Refinitiv layoffs

No worries my friend, whoever you are. Super important job titles quite often don't mean very much here in Refinitiv. How the f**k did they get these jobs?
In many cases, all it takes is some honesty and courage, use of simple facts and logic, dragging some vampires by their feet into the daylight and then watching them scorch and squeek and let me tell you - it feels good and is totally worth the risk! :)
Then.... I'm not 100% sure your post is not just ironic....very strange times we all got to live in.
And don't 'comrade' me please, I hate communism ;)

@mpej+1dgiNWDJ pity you, you really get a hard time on every front, just remember it's a crooked plot, just a couple of immoral people, rest are good, keep fighting, the lion never stops roaring. they underestimate your network and influence. they challenge your incredible foresight and intellect (one of the highest ) at their risk. comrade, stand strong. Demand when you’re old that your employer is accountable and looks after you, least they can do for the incredible dedication and loyalty of employees. Costs second, humans first.

In any case, primary driver is to save company cost. What happens to you when you get old is not important here.

@ltiq+1dgiNWDJ
What Fidelity offers to Refinitiv employees in Poland (and what Refinitiv presents as a perk!) is much closer to a simple money saving/investing scheme than anything even remotely connected to a pension.

The current situation in Poland is that we have two schemes going on which are supposed to complement each other. We of course have the typical intergenerational-contract kind of pension (I provide the money for current pensioners, hope for younger generations to do the same for me) and for some time we have had various schemes which were organized by the state and which involved saving money specifically for yourself at a separate account. The first (?) such scheme ended disastrously and people are rightfully unenthusiastic about any such schemes.

Some time ago the ruling party introduced a new kind of scheme, one in which your money (some taken from your salary, some provided by the state) is invested by one of many relatively reputable private investment institutions in a kind of a pension fund.

The supposed plan (not confirmed by anybody officially and only mentioned in a post on LinkedIn, I believe) is to move the money from Fidelity into this scheme (called PPK - employees capital plan).

@idke+1dgiNWDJ Not sure how it works in Poland but for UK any changes for a pension are led by a team of trustees (employees) not HR. The trustees have to agree any changes to terms on behalf of employees , the trustees are elected by employees so there is a balance of decision making across to ensure it’s in pensioners best interest. Of course how pension is invested by each employee then falls to the individuals own choice by means of various funds they can place their money into. Each with its own risk appetite.

@idke+1dgiNWDJ Facebook?! Who uses FB? Get with the programme, start your own website so you have can have full editorial rights. No removals, edits, just yourself owning your own messages. Or how about 2021 social media, such as insta, discord, reddit etc, dude FB is dying

I've seen a Facebook post from the polish union today. Their LinkedIn account with thousands of connects got suspended and right after an info about AW from polish HR planning to ki-l our excellent Fidelity retirement plan to replace it with government-sponsored one and we all remember what happened to the last one like this - it got "nationalized", all money gone forever, but hey - it's way cheaper, so who cares...
Funny thing - she hates our current government :)

@avoe+1dgiNWDJ Was thinking the same thing about the amazing strong polish union ,they writes big long posts and then they disappeared.

None of my team have underperformed therefore there will not be any 10% ‘ers’

@btjh+1dgiNWDJ yes someone said it here and then the post got removed! :)
I wonder what is this site's business model? Money from ads and nothing else? those disappearing uncomfortable posts can make one a little paranoid...
It is also interesting this site is blocked from access from within Refinitiv.

@avoe+1dgiNWDJ didn’t someone say they were the friends of the ceo of the site, maybe they can help explain the case of posts disappearance

It is strange some posts criticizing our HR just disappear from this forum later.
I wonder, i.e. if an HR person is unable to force, push and manipulate good managers to rate min. 10% of their staff as underperforming, do they get underperforming rating themselves?

@5szv+1dgiNWDJ post from the union was direct, honest and open, explaining everything with their leader name and contact details. what I remember is this: "I have seen my share of lies and manipulation and this forum is no different" and "do not buy in into this 'divide and conquer' dialogs here".
how can anyone remove a post from here anyways? it seems this forum is closely watched by our lovely HR. thanks God its all anonymous.

to @7nvv+1dgiNWDJ
Thank you! you made my day! LOOOL

@7nox+1dgiNWDJ Deb is, and was the BEST, am so going to miss her lots and lots

to @6hso+1dgiNWDJ the only area where you're leading 200% might be Deb's Sycophant League

@ “leader200”
In the unlikely case you’re telling the truth, after 35+Y experience in the sales business you still don’t know that the best performers can sometimes miss their targets for a various number of reasons, nor have you noticed that sales targets assigned by Refinitiv never had anything to do with reality…

@5szv+1dgiNWDJ got us curious, what was the jist of it the post

@5jcc+1dgiNWDJ : thank you. I am very grown up (56 years old) and with a lot of experience in my life. I know lazy b*ms when I see them. They will in my experience CRY like a baby but then they know the hand that feeds them, despite how they may complain about that "hand" and they cant extract themselves away. They stay with the company that treats them so bad, and so unfairly, sometimes quoting their dedication and loyalty, but they suffer and allow the company to cause them suffering which includes underperforming. Save yourself the trauma please and leave, no one will miss you and you will be much happier. You may also find after you leave and join a new company how much happier you can be. So instead of exerting your energy spouting vitriol on here, spend it updating your resume and get yer self outta the he-l ho-e you perceive it to be.

To “leading 200%” (LOL) keep working your best for the company and wait until you’ll be assigned unreachable targets, be under PIP with useless management and fired “underperformed”… maybe this will make you a grown up?

@2oed+1dgiNWDJ - does every employee give 200% no, there are always slackers and people who do less. I have a guy in my team who logs on whenever he feel like it on teams, does sweet nothing, always behind in his work, blames everyone except himself. It's never ever his fault, we pick up his slack. If you challenge him, he claims harassment and bullying, but he never quits, he must be on a good salary.

Why should he be labelled as performing and get a full bonus? In my opinion he gets a 100% pay check monthly, but does 50% of the work the rest of us do. By giving him underperforming, means he gets less bonus and that bonus money is redistributed to those who add higher value.

In my previous company the bonus i got for working my a** off was 2% higher than the slacker next to me. I resigned, I want to know my hard work is going to be rewarded, and it has been for the past 2 years with almost 200% bonus. So for me at least, i LOVE the reality that 90% of people who are not underperform get treated right. I am apologetic if this offends the under-performers on here.

So like I suggested, stop friggin moaning and just LEAVE and choose your next employer on the basis of their performance framework, you will have fewer options, but perhaps you will be happier and feel like you are treated more fairly.

I am very happy with the framework we have so I am staying (sorry), and roll on the 200% bonuses - happy days to me (and all the others who work hard and deserve it). That by the way is the OTHER 10% (Leading).

I will be a voice for 90% - 22,500 souls, and not the 2,500 ( I think we have 25k staff)?

@leading200 per cent you are missing the point whether intentionally or not. There are a number of people who have always given 200 per cent and have been graded fairly for their work. But those same guys have been put in positions due to changes where they are not managed well or roles have changed significantly with no mentorship or clear targets etc. Then company says that whatever what 10% will be graded unsatisfactorily. Some that are will be people who have been working flat out but let down by poor organisation or management

Wake up people, you are working for a commercial organisation. The majority of commercial organisations use such models. If you hate it so much consider that you go work for a company that has no performance frameworks (like working for yourself or maybe a union)?

Or go work for a company that does not offer any bonus scheme, that was you will never be upset at not getting one. Simple simple.....don't you think?

Wondering in uk how the process would stand up to industrial tribunal and if unions offer effective support

This is just a cost-saving measure. In other companies that have similar evaluation systems (forced ranking distribution), there is a lot of training that managers go through in order to avoid bias and unfairness in the process. There is rigorous goals setting at start of the year, and scope/goals of people in the same evaluation pool are calibrated. There are even evaluation panels/roundtable. Then other companies have appeals process - e.g., if employee challenges the rating they can go to a "tribunal", the manager needs concrete/specific evidence for the rating and colleagues can testify to support a candidate.

In addition to cost-savings, here this is also a tool for very insecure managers to get rid of subordinates they dislike or those who threaten them or who they know are better skilled than them.

Reference to unions. Not a silly question. They are useless and specifically for Poland it’s been underperforming (the union and the representative). My union fees going to a swamp, it needs draining.

If you lucky you will get offered the redundancy and feel happy you got paid to leave.
If you are unlucky you will go through the PIP process (bit like appealing a parking fine with the same company that gave you the fine) and then be told to consider leaving under own steam rather than being fired for underperformance.

probably a silly question but where are the unions in this process?

Such a shame LSEG implemented this unfair "performance framework" from our Refinitiv' crooked HR... (another swamp to be drained BTW).
It is a way to them to get rid of people cheaply and silently, as people usually feel embarrassed to reveal to others they are an "underperformer" now. Then just get them on "Performance Improvement Plan" with a list goals almost impossible to achieve, with aggressive deadlines and good luck my friend - it's for your own good, it is us gifting you this great tool now, supporting and helping you to become your best and tap into your true potential! No extra resources, no funding, everyone is a project manager too, everyone super busy and overloaded with extra work disguised as "lean philosophy", so you get very little help from others. In the end - failed PIP mandates dismissal, good people get fired, case closed, more money stays in fat cats' pockets. Move along folks, nothing to see here...

My good fellow... Don't you understand? The reason for this is so that you are doing the group a favour by being classified as an under performer.
How, you ask? by ensuring the company does not need to pay you out but PIPs and then fires you instead. Its all academic and not personal old chum...