Fact: word is from reputable internal sources (HR, finance, senior management, tranformation team), that 10,000 F&R staff will be let go from October 2018 onwards until the rationalisation is complete - expected in 2019
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"So likely that there will be an initial cull in October and then successive layoffs through 2019 as the re-orgs occur" - This is what I think too. I have no inside knowledge but it seems to make sense. After 9 months I think the severance pay rates will be changed for the worse.
Yes, it will be huge numbers and it will start mid October.
Knowing people involved in the debt financing, don't bet on getting a severance if you are located somewhere where it is legal to not give you severance.
Blackstone have reported that $300m of the $650m savings will be headcount so a rough calculation taking an average salary value would indicate approx. 4000 job losses globally.
As Refinitive restructures across all areas to build the new company nearly all groups will be impacted by being broken up and merged typically by function and through that process the headcount reduction will be delivered. So likely that there will be an initial cull in October and then successive layoffs through 2019 as the re-orgs occur.
They've guaranteed to honour them for 9 months after the deal closes. Anybody who's let go before 1st July 2019 will get the applicable current TR deal.
Severance packages aren't guaranteed. Thomson Reuters was nice and usually honored them. Blackstone and the syndicate they are putting together will not be as nice.
This is a lot. I had heard 7,000. I wouldn't rule out the company being further broken up and assets sold. The only people that will hang around are those that are due a big payout (e.g. those on the Ex-Reuters package), otherwise why would you stay ?