Thread regarding Refinitiv layoffs

LSEG D&A is a house of cards. There is no new product development, all revenue is attributed on the structure of old access commercial deals, and high paying jobs are given to friends to sit in seats and pretend to do work.

Looking more and more like Elliot capital management was courted to justify big buybacks and avoid scrutiny from a different activist investors.

Everything this company announces is fake.

No internal promotions, fake external hires, and 4 years of friends-and-family recruitment. The people hired through this system by ex Head of Workflows now gone, are still spread across D&A and keep repeating the same pattern. Recently again on Open D. That’s a joke.

LSEG famously fires all its best people because the senior leaders feel threatened by them. Then senior leaders make posts like “we need dynamic AI leaders.”

Stay far away from this clown show organization, which is like a fintech Enron. Senior leaders (especially in their phony AI group) are just orchestrating lies to investors in an effort to pump stock prices.

Workspace demo days coming up, the annual day where LSEG refreshes the same set of pre-recorded video demos for the Microsoft partnership and then gaslights the industry into believing they aren’t the same as last year (or the year before).

@5kc Microsoft isn't going anywhere. It's funny how people think LSEG and Microsoft chose each other. Blackstone (and the consortium) were going to divest and make their money and someone was going to buy it and LSEG had very little to say in the matter. Just look at the deal from a high level, Microsoft pays $2 billion for a 4% stake of LSEG and they can sell after January 2025. LSEG promises to spend a minimum of $2.8 billion over 10 years. Who do you think had the upper hand in this deal?

Microsoft's position is now worth $2.6 billion (~33% increase) and LSEG still hasn’t spent the $2.8 billion. This deal is all about cloud consumption and nothing about product development. We had a window of opportunity to come to market with some joint product but we blew it. We are so risk adverse it takes forever to get things done. Plus we’ll probably spend more than the $2.8B, our systems process tons of data, with speed and reliability. Each product with multiple years spent tuning for performance. These aren't easy to move to cloud, and when you do, you're paying for the highest tier of cloud services. Microsoft will be laughing all the way to the bank for the next 10 years.

Word on the street: Microsoft is courting new financial services partners, in the wake of the Fintool acquistion, to replace LSEG. They are fed up with the workspace team's lack of progress and moving toward cancelling the partnership.

0% growth in workflows today at the Q1 trading up. Worst performance since pre-COVID and pre merger.

After not making any announcements for since June of last year, i think this might be the most embarassing product announcement of all time:

https://www.lseg.com/en/data-analytics/products/workspace/updates/lseg-launches-workspace-top-50-to-reveal-global-search-trends

Congrats to LSEG on building something the Bloomberg Terminal had in the 1990s.

It’s a great job if you get to work in Workspace. Free salary, no expectation to accomplish anything.

People need to stop posting these terrible(-ly accurate) comments about the leadership in Workspace. Its libel! (except its not at all since it’s 100% truth).

I am glad the heinously accurate comments about the abysmal performance of the Workspace management team are actively being monitored and removed, because some are just looking for someone to blame for the things this team did and for some reason they are pointing fingers at this team.

The top things produced by the desktop team at LSEG is org charts and job descriptions.

It’s certainly not anything to make Workspace a usable product.

Only James O' Keefe would go into an interview to ask this question, and record the interviewer's response with a hidden camera.
"LSEG places strong emphasis on its values (integrity, partnership, excellence, and change) and the motto "Dictum Meum Pactum" how are these actually reflected in management, hiring decisions and internal mobility within this team?"

@1m9+1km5d2qv1 it’s mind-blowing how much over-marketed, unreleased product embellishment slop there is from LSEG in the past.

They removed a comment about an advertised role, because it was quoting a LSEG's press release still available online... makes you wonder who's offended and why??

Ok once again, for the "open" role Product Manager, Community, Open Directory - Workspace, is LSEG hiring to deliver the announcement they made on the 23rd of January 2025?

https://www.lseg.com/en/insights/data-analytics/transforming-connection-collaboration-across-financial-services

"Transforming connection and collaboration across financial services
January 23, 2025"

"...
Now, in partnership with LinkedIn, LSEG is integrating LinkedIn functionality into the Open Directory pilot app within Teams.
We are bringing together a community of 1 billion LinkedIn users, 300 million Teams users and the 200 billion data messages LSEG sends every day to our customers around the world..."

@a3 "For sure, somebody can be given an internal promotion/job change all agreed upon offline but they're required to post a job on Workday for a mandatory period...."

If you witnessed this, then you have to speak up, because it’s evidence of dishonesty and a massive legal risk.

Using a 'mandatory' Workday post to hide an offline agreement creates a documented paper trail of a sham process.

Under the Equality Act, if that pre-determined hire disadvantages someone with a protected characteristic, the company has zero defense.

Also, for internal staff, this is a clear breach of the implied term of 'Mutual Trust and Confidence', which can lead to constructive dismissal claims.

You forgot to mention this "open" role Workspace Product Manager, Platform

Anyone that has been interviewed for any of these roles (especially with protected characteristics), internally or externally, should raise a Subject Access Request. And ensure your search includes internal emails and messaging platforms (e.g., Teams) for the period [Start Date] to [End Date]. Specifically request that you use the search terms '[Your Name]', '[Job Title]', and 'Interview Scoring' across the mailboxes of [Hiring Manager Name], [Recruiter Name], [Interviewer Name] and [HR Person Name]

If the SAR reveals they had decided on a candidate before your interview, this evidence is critical for any future complaint to the ICO or legal advice you might seek regarding the fairness of the process.

Known your rights and don't be a victim!

@164+1km5d2qv1 They didn’t want those people cause they were a threat from 1) effectively doing their jobs 2) having creative ideas.

Only yes-men, sycophants who can’t think for themselves are considered for these roles.

Cluster Product Lead (LSEG Messenger), Workspace role...

It wasn't long ago when they forced out colleagues with 10+ experience on this area and replaced them with their "friends and family". Interestingly why it didn't work as planned. Great managerial skills!!! Hahaha

@117 We don't know! Do tell.

PSQ is BUZZING today. IYKYK!

@a3 Well, exactly that. Which makes everyone wonder "what this has to do with the LSEG's value of Integrity?"

Let’s be real, this team runs on nepotism. Roles get decided long before they’re posted, leaving outsiders to waste their time. “Open roles” aren’t actually open.

For sure, somebody can be given an internal promotion/job change all agreed upon offline but they're required to post a job on Workday for a mandatory period....