Thread regarding Thomson Reuters layoffs

The productivity now is worst people takes many leaves and some technology that is using now are not catch up with the market. Some team and some head(fake) don't have any idea what the heck there doing about. I could define in one word "zombanization"

15 years Ago this company is one of the top notch is many aspect pay, travel,tech,training etc but now so many start up Fintech is catching up. I think for software engineer this is a big plus the strategy is to wait for a package then go into the shortage SE market or can take a nice vacation But for some role like specialist in TR component or Tech Support it is going to be a winter time

Now I could pick up some unusual activity such as large room booking. Sr management take continuous leave run down asset is consolidate. Some seat position shuffle and definitely there is going to be a laid off. Black stone is not a charity organization

HI,

Which management are you referring here to (ELT) because nothing is filtering so far..

I agree with you on the BS side that they will be the ones to decide as they bought 55% stake , they just can't remain silent and trust these people who caused our downfall

My manager (according to his manager) shared some limited information with us in a private conversation, our business had been given the head count &total cost to be reduced in the first round RIF in 2018. It will be decided by current management team .

After closing , Blackstone will send consultant do a deep dive for each individual business and give recommendation to determine which business to cut, sell, or invest/grow , 2nd round will happen in 2019.

According to a senior manager close to the deal. Our business had been given the head count &total cost to be reduced in the first round RIF in 2018. It will be decided by current management team .

After closing , Blackstone will send consultant do a deep dive for each individual business and give recommendation to determine which business to cut, sell, or invest/grow , 2nd round will happen in 2019.

Yes. They want to wipe out the whole teams like they did with rmds team a few years ago. Also will not pay the extra severance from oct on but only the very thai Labour law minimum and not buy out notice. Many people are leaving now and get the new job as lucky there are lots of good job in Bangkok.

Hi From Bangkok speaking of closing Team you mean like wipe out the whole team member not like partial laid off like before

Yes I am from Bangkok. I have the contact in the USA. Most of F&R teams will be closing down. And only the News team and small sales team to stay. They are not going to tell us the full story in October announcement but to do the firings in waves. I am looking for the new job and hope to leave by October.

Does anyone here from Bangkok? Please share!

I am a rejoin last year as contract now I could see many contractor is fleeing at least 50% mix up with permanent include my self my contract will be terminate this month with some sloppy explanation like no more project and now I could see many facilities run down at the moment

now it's look like sinking ship

looking forward to take a severance package and find another job...

To stressed out guy...

Dont be stressed man, you are getting off the titanic. Its astuay good, and you may get paid to get

Off.

TR is a dump. You will be better off

Nothing will happen before the deal closes on 1st October.

Probably soon after that......

raksmis

Guys des anyone know when it will happen? I am really stressed out I keep hearing different versions of the story with some people saying this week and other saying next week

If you think Blackstone would repeatedly say they're going to honour terms then NOT do so then you have no idea how business works.

If Blackstone didn't want to honour the terms they would never have bothered lying about it,

As previously confirmed, existing terms will be honoured until 30th June 2019.

My guess is that after that date they will harmonize the terms to something much less than the current generous deal for ex-Reuters people. That being the case I'd guess they will let a couple thousand go now on decent terms, then maybe 5,000 in a year on much less generous terms,

Y'all are too trusting. The investors in the syndicate never agreed to that and they don't care about the Hub.

$300M has been carved out of the blackstone junk bond to pay you slackers to leave. So , assuming that c-appy junk bond sells, why not just sit around doing your normal little work until you get your goodbye handout?

On the other, the US job market is the best in decades, so if you are in the US, and not a slacker, just get a jew job.

That's not correct. They occur before 1st July 2019 we know exactly what the severance packages will be . This is all published on The Hub.

You are kidding yourself if you think you will get a dime from Blackstone and are in an at-will state.

-So far what we're hearing is the first two weeks of October they will be firing staff

-No way to know the severance package even though the common package last time around was 3 months pay (it defers from region to region)

• Some of the people in the higher management team have already started leaving, my question is if they are high enough and they know about the redundancy then why would they resign before (Waiting to be made redundant = more pay for them) So I started to doubt that there will be a big severance package