2nd round of layoffs

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.

I haven't wrote this, it was posted originally by someone else as a comment on another thread, just thought this should be more visible

Comment! It's anonymous!

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Time to exit. It's not that the company is making losses. The board is more greedy to spend more at the golf course and they aren't able to meet their expenses. Solution- take away living expenses of the people who have worked so many years holding the ship together.

In 2019 it will not just about same old boring RIF exercise . It will be looked even more closely and holistically by black stone so that refinitiv business could be sold in pieces and it will eventually up to the acquirer for that business to decide what they want to do with technology asset vs people .

To just name a few : Tradeweb, FXall, REDI, EJV, Pricing partner, Starmine etc... there are so many small and profitable business ( quite famous IP and branding) under Refinitiv umbrella that still kept their original name even after the acquisition. which are all individual companies that had been acquired over the past . most of those technology or capability had been integrated& replicated into existing refinitiv platform. so that legacy product can be spin-off and sold for extra profit.

They've said they'll honour existing (Generous) deals until 30th June 2019.

Highly likely the real cull will be sometime soon after 1st July 2019.

“It could be 2-3 round in one year” - beyond the speed of change, buddy.

i think the point here is it will not just happen in Oct in 2019 , it could be 2-3 round in one year

It happened every October in TR in any case.

Original comment @V9jvitV-8lgn

OP - if you take other people's posts at least provide a source

This isn’t TR people.

This is a private equity firm. This will happen every month if you don’t hit numbers. Get real! Are you all really thinking this is going to be where people come and never leave - no way. Haven’t you read all the stuff about a high performance culture and accountability? Didn’t you get that memo?! They haven’t been saying it for nothing - don’t deliver you’re out is what they really meant.

You have no idea what you’re just about to get into. If you got out - good for you. The rest, buckle up and get ready for the private equity ride - buy it, fix it and sell it! What business is first up for sale? 😢

Think June was in option too.

Someone mentioned three rounds: October, January and next October.

Thread regarding Thomson Reuters layoffs

2nd round of layoffs

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