The only people left are the ones that either can't find a job, or have a really sweet gig, and holding on until they are told to leave with their severance. The mass exodus in talent over the past few years is astounding. I watched people be forced out of the business by people not qualified for their own role, but had power for the first time to do what they want. What this proves is that TR believes that the business is commoditized, and that people really don’t make a material difference, interchangeable. So what they do is purge the company of higher paid talent for lower cost alternatives, and understand there may be a dropoff, but well worth the reduction in expense. When companies take on this strategy they are making themselves lean and attractive to suitors, so don't be surprised if pieces are sold off within the next 12-24 months.
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I fully share my opinion with the author of this post I quoted above
4 replies (most recent on top)
@OP+1amqK7KW - What will this strategy bring? Cut staff fast, then send the jobs to lower-cost locations - inflate net profit - bonus for the C-Suite Haves.
Cutting severance is part of the bigger plan to prepare for a divestiture. Potential buyers don't want to be stuck with legacy severance agreements like Blackstones acquisition of F&R.
When is B Pec getting spun off?
I have heard that this is exactly their strategy-reduce costs, fill in some gaps in product lines then sell, sell, sell. I have been contacted via an intermediary to speak with mgt consulting cos that are advising their clients on acquisitions. Reuters reports know this is true. In a few years, TR, as we know it now, will no longer exist.