Source: high level (exec co/exec co +1)
After the disappointing results for D&A relative to the other business units, there will be mid-level manager (level 16) and below consolidation/layoffs in workflows and analytics. This will either be slightly before or after Eikon end-of-life, depending on the success rate and after a new D&A lead is named (will be someone external).
The friends and family hiring package exists in Workspace and as Analytics. Incompetence over ability overtime
FTSE Russell laying off London and Poland based staff. Some of these layoffs have only been recently hired.
In reality, It happens anytime one of the friends and family needs a job despite their qualifications. Someone is usually pushed / bullied out or packaged out. This is rampant in all areas incuding the business and technology. This is beyond repairable at this point and hurting LSEG bottom line. May the leaders who partake or turn a blind eye to behavior live in interesting times.
It appears to be the norm for workforce reductions to occur twice annually. Given the forthcoming discontinuation of the Eikon desktop product, it would not be unexpected to see redundancies taking place around mid-year.
It doesn't need to be confirmed it is the norm in LSEG D&A. The question is who will it inpact and who will have to pick up the pieces.
Has the below statement been heard or confirmed by anyone else ?
D&A, especially workspace, is such a disasterclass at this point, it’s not fixable. Doesn’t matter who gets let go.
Never going to happen - people leave - they seem to get away with everything with no consequences
Remains to be seen if the people responsible will be removed, or as usual the productive performers who are struggling under clueless senior leadership?
Wouldn’t be surprised. The Dean Berry “friends and family” plan to running workflows has failed and its time to try something new.
If the new D&A lead turns out to be an external hire, it will be a major shake-up for the Workflows team, whose management is still relatively new but did not deliver much. More turbulence ahead, once again for that team...