TR has hired a major CPA firm as a business broker to sell several products and the teams that produce them. Information that the broker has disseminated to prospects calls this a "multi-asset divestiture." This involves 3 teams. The sales are supposed to be complete by 5/31/22. What will ultimately happen to the many employees on these teams is anyone's guess.
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Anyone else keep checking here for more info?
They have layoffs whether they sell product lines or not. It is just about that time of year when they figure out your number....
There are always layoffs at TR.
Are there typically layoffs when TR sells product lines?
What, exactly, is in the enterprise tech stack?
These businesses were told last year that they weren't part of the enterprise tech stack...a sign that something was changing and it wasn't part of the Change Program!
So the 5/31/22 date intrestingly enough aligns with the "go live" timing for checkpoint moving onto enterprise tech stack as part of change program. I would not be surprised if they invest in this move and then sell it off. But what do others think? I keep hearing something is happening in May and its been awhile since the last divestiture.
The value in TR going forward is our share of the London Stock Exchange. A cash cow once we start selling our shares. So it no longer matters what we sell.
The products have the word "Checkpoint" in them...but they aren't the Checkpoint news products.
Any idea which products?
(@1mje+1e5BJMQs) "TAP will get hit by the foreshocks. Then the Richter magnitude scale in summer."
Which product lines are the primary target for divestiture? Beyond a cash infusion for Woodbridge and the upper management, why these products and not others, and why now?
The reason why they're fast-tracking the "content modernization and standardization" of the work processes for these products, make the products look more attractive to the buyers--cost-efficient, etc. The 5/31/22 deadline is to hit the Q2 target and is just the beginning. More products will be sold by end of year this year and definitely next year and year after that, before 2025. TAP may not be for sale as SH has vowed, but doesn't mean its (and other LOB's) products won't be sold.
As for the affected employees, esp. the U.S.-based, a few will be retained (SMEs) to help with the transition; most will be deemed redundant and their positions/work will be absorbed by the employees of the company the products are being sold to; the outsourced employees remain since they are the ones doing the day-to-day operations for cheap.
And that's TR's--under McK's spell--purpose.
TR upper management can’t change the toilet paper in 2 months. This would make more sense if TR was a holding company instead of an operating company. Lol I crack myself up.
The process started at the end of last year...it is not taking 2 months.
April fools?
I believe that TR would sell products. But I have a hard time believing that they can do it in two months. 😮