I am really worried that I will be laid off this year. I’m seeing all the signs of a company wide cut from TR and I’ve been here 25+ years. Performance has been good but they keep changing the standards and performance measurements. How do they usually do these things? What process can the unlucky expect?i
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@m6 TR's fiscal year is January to December. Layoffs are typically timed for November so notification and exit all fall within the fiscal year. It's not humanly compassionate but does have Accounting purposes to keep severance expense in one year and allow 100% compensation savings for the following year.
TR tries hard to avoid severance in the US, however they can't get away with it in the UK, particularly those who joined Reuters
Employment laws are a b*tch when you are trying to sc--w your employees.
@d9 It was a nice place to work when it was Thomson. When it became Thomson Reuters things changed for the worst.
The fiscal year ends in November so they always do these cruel layoffs in the week leading up to Thanksgiving. At times they have all the sentimentality of a mafia hitman.
PIP now stands for ‘Pre-Initiated Parting.’ Severance not included.
@bd yes and they do that by any means necessary including fake performance improvement plans and creating toxic work environment hoping you will leave yourself.
Really sad it’s come to this, used to be a nice place to work.
If you had no fake pips at least you will get full severance, so nothing to fear. Whether you get laid off or not is not up to you though.
TR tries hard to avoid severance now.
@b3 AI - if TR is doing it everyone else is too
Why are you worried? 26 years of service means a year of severance in the USA.