Thread regarding Thomson Reuters layoffs

laid off and severabce package for Ex-Reuters

signed with reuters contract around 16 years ago, i can tell it is way more difficult to let someone Ex-reuters go than thomson reuters itself. sanjeeve chatrath comes just 5 years and already being laid off, a bunch of his underlings, kimberley, alfred are all ex-reuters, and doing very good now and are indeed more powerful than sanjeeve himself, sanjeeve just came in and out office, all the senior staffs could do whatever things in office, so check your contract again, calculate your package,and compare whether you are too expensive or easy to say goodbye. you are not safe, your manager or even your team.

1st priority laid off: all projects managers and head of (meaningless titles) or fake head of

2nd research staffs will be sourced to cheaper cost location, india, malaysia, shenzhen, china

3rd market development people and account managers

4th you are from somewhere else, not local, Mandarin speaking staffs are safe, Cantonese sales and authentic English, Indian English, Pinoy English, etc will be cut

5th check room availability, if you have a meeting with whoever near the HR room, then you know...you are the next

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| 3244 views | | 7 replies (last September 16, 2018) | Reply
Post ID: @OP+V3FIUWW

7 replies (most recent on top)

I think the severance package will change and become aligned after the 9 month moratorium. Hence I think maybe better to go now that later. All will be revealed soon. I hope they do it in a classy way. A webex with HR is a sad way to end a long career. However I have no expectations.

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Post ID: @8iay+V3FIUWW

Anyone know the package if you are in the U.S.?

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Post ID: @2sof+V3FIUWW

That's correct. Which is why most will sit tight if they are on this package , but it could change and align to the terms of the new company, which would be a concern. These packages are not written into Ex-Reuters staff contracts - despite what many believe. The contract refers to the Staff/HR hand book, which can change.

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Post ID: @1isk+V3FIUWW

So, in theory, an ex Reuters employee who is over 40 with over 10 years service in the Uk could get a couple years salary as severence? Unbelievable!

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Post ID: @1oto+V3FIUWW

For ex Reuters people with service more than 10 years, when being let go, they will enjoy

3 month garden leave

3 month payment in lieu of notice

1 year of payment of last annual compensation

15%* 6 month payment for severance package

Employee contribution, retirement plans, insurance, housing allowance, child education

Of course we are talking about frontline staffs like sales, business development, etc.

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Post ID: @1uxf+V3FIUWW

On question about What is so good about ex-Reuters package.

Answer; Im UK - it is not capped - like the Thomson one, which I think was capped at 52 weeks.

Payouts are bigger - especially for those over 40 and with 10 years service.

There used to be a copy of the Reuters severance graph on Hub ?

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Post ID: @1why+V3FIUWW

Whats so good about the ex Reuters packages?

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Post ID: @1yxf+V3FIUWW

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