So all exreuters UK staff will have their redundancy benefits reduced in line with LSEG. That the thanks you get for surviving the last 13 years of reorg after reorg. Note this only happened after the cleanout of management after the lseg acquisition. Redundancy benefits are the only thing keeping some at lseg.
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@9giu+1echA5Gk I don't think David Thomson ever had any idea of what's going on... the guy can't even handle his hairdresser
Ex Reuters employee - Loved Reuters, hated TR as I had to deal with as-----s from Eagan - arrogant and small minded. No idea of large systems or decent solution designs.
I never did understand why Thomson bought Reuters.
It was all initiated by David Thomson I think?
Not surprised by the rock bottom terms of Thomson redundancy pay offs.
6 week per year?
Ex Thomson got 2 weeks / year. Lol, that explains the resiliency of the ex Reuters people in the middle ranks. Well, that, and the ex Reuters CFO at F&R played favorites to 1)ex Reuters and / or 2)British. He went on to be CFO at DMTG and I hear retired after the RMS sale to Moody's.
I should have left that place the day after the Reuters deal was announced. It was all downhill once those clowns swanned in. Reuters would have gone bankrupt by 2010 without Thomson. I remember the party line was "Neither would have survived, we did the right thing!". Only Reuters people said that. Thomson people knew better.
@3nxa+1echA5Gk - Correct.
The Reuters terms that carried over to TR are 6 weeks pay for every year worked aka
11 years 5 months service would = 69 weeks (11 * 6 weeks plus 3 weeks for the part year).
Could you explain the "6 weeks per year terms for redundancy"? 6 weeks' worth of pay for every year you worked or do I understand it wrong?
Custom and Practice - Peacock Stores. Quite fancy a picket line In Paternoster, not been on one since News International.
I was lucky to escape with the 6 weeks per year terms for redundancy plus all the extras.
They even gave me £2k towards retraining that I didn’t need to use on such die to retiring ;-) …..I managed to get out where curve for payoff was at max due to my age.
A couple of years longer and it started to decrease as you approached 60.
At another company I previously worked at they tried it reduce redundancy payments and it was deemed illegal to do unless 12 months had passed since making someone redundant on the old terms.
HLSE staff are also getting fleeced with the changes to pension as well
I am surprised anyone with those contracts has survived this long. As one of the people who benefitted from leaving on those terms I can only say thankyou to the Baron.
The pension scheme closure is a bigger issue for most of us still in it have planned things based on working till retirement and won’t have time to save the difference ourselves
Given that a Reuters employment contract hasnt been issued for 13 odd years there are isnt anyone junior affected by this in LSEG/Refinitiv. There is a financial impact on all those people affected if made redundant in future as they have been there long enough to benefit from the enhanced Reuters terms. Woohoo LSEG way to retain staff, but its ok you can replace them with staff from the banks at higher price whose only skills are powerpoint and interviewing well.
Sneaky action. Slipped in with the pension announcement as almost a side note. Not a good way to keep goodwill or build any trust. Very shortsighted in light of recent outages.
Those on Ex-Reuters Pension scheme are also affected by the harmonisation of benefits.
I think it deppends on how old are you and what are your skills.
If you find another job do not look back 😉