Why did we lose some of our best workers once again? Is being knowledgeable about your job now a liability at Thomson Reuters?
6 replies (most recent on top)
The bottom line is TR does not value its greatest asset - their employees. Knowledgeable or newbie - does not matter. You are nothing more than a number with a cost attached to you.
TR is full of people who have not worked anywhere else in their career. They have to their credit done lots of different jobs during their tenure and got to where they are HOWEVER have no experience of working in other companies. It’s a shame because when they get laid off they struggle to find jobs. Employers value broad, multi company experience. They want to know you can work in a changing environment. Your experience is only valuable if it has currency in the external world. I hope that people realise we are in a dynamic world where business and economies shift fast and companies like TR have to adapt. That means sometimes laying off staff ( and quite often very good staff). If I owned TR I’d cut 20% of the workforce, it’d run much better. There is so much fat on the bones. This is a great business, with great product and great people but they sadly just don’t need all the people they have. That isn’t a crime, that is perfectly normal in the world of business. This is one of many wake up calls that are needed to jolt this lazy fat a-- organisation off the sofa and onto the racing track competing in the real world.
This is a cost-cutting exercise pure and simple. You can have all the competency matrices in the world, the results will be engineered based upon salary. If you're the bigger earner in your pool then you're gone simple as.
If you are a victim of a "Competency Matrix" wait until it has been completed and you're given a decision. If you are axed you need to understand what is the criteria and how you were marked. Get that information, walk out and go and see a lawyer. If you think it has been unfair/unjust then appeal the decision. In the UK you are legally entitled to appeal the decision.
I think every single victim should appeal regardless (subject the local law).
Knowledge and skills mean that person requires a premium salary. A premium salary instead if $12/hr in India means those execs get less money. Quality doesn't matter if you can cook the numbers for a couple years before anyone realizes and get out with a nice profit
Infighting at Woodbridge among Thomson siblings due to poor performance from TR merger. DT takes the blame and now needs to fix it.
Getting paid is the liability for the company. If there was a good leadership, more about innovation and strategy and less about just being political and managing upwards, Woodbridge will not be looking for a private equity house to clean up the shop. T