Thread regarding Thomson Reuters layoffs

Good post.

Two points to add: this is the only company I have worked at where Proposition run the game and hold the wallet, not Product. With out power/budget Product is basically just a go between struggling to please Prop and GTM. That could never work.

Secondly, far to much strategy is Tech led, not business led. We make stuff 'cos the tech is cool. We should be making stuff because our clients want/need it using whichever tech gives the best fit... IMHO

This is exactly what is happening in UAE,!

The following story very much applies to transactions at Times Square. It should have said welcome to REDI instead of Refinitiv.

Their friends will survive and thrive at the expense of some people who were truly committed to the firm and worked hard. The name and ownership of the company may have changed but changing the rotten management culture is going to be incredibly hard. In that, it is still very much TR.

Excellent post. You nailed it.

They dropped the Reuters name for a clean re-sell. Isn't that obvious to everyone.

Not quite true. It still retains a key attribute - inability to make changes where they are really required.

So many people in product management LT need to go if Refinitiv has to survive and do better than TR did, but that doesn't seem to be happening. They keep shuffling the same deck of people in product. Cutting people from level 2 and below will not change much because it's a product leadership issue - a lot of those people just don't have the pulse on what the market really needs.

Go hire product and market expertise from outside and deliver a great offering that sales can sell and clients want to buy. We keep losing opportunities not (just) because someone in front line was not capable but because we can't get most of the product management function to deliver something that market actually needs.

They needed to reduce fat from market development - they have zero accountability as of now and relative to most people on front line, fatter paychecks. Don't want to sound grumpy but where is their true motivation to disrupt the status quo? They too are retaining friends because it's always about survival in this round of cuts and assigning blame to others, not about delivering results.

Hold senior sales managers responsible, not the mid-level guys. Senior folks have bled the company in building their personal brands and delivering jack to the company. Change the guys in LT whose only mantra has been - "don't come to me with a problem". Hire people with varied, diverse interests and skills but those who believe that their day jobs are at refinitiv, for refinitiv and those who believe they are here just to play golf, drink with friends at company expense. Watch out - a few of them are about to be promoted into even more plum jobs.

Like any previous exercise, this one too is not going to be perfectly executed. There are far too many managers that need to go themselves, who are going to be involved in decision making in some form. Their friends will survive and thrive at the expense of some people who were truly committed to the firm and worked hard. The name and ownership of the company may have changed but changing the rotten management culture is going to be incredibly hard. In that, it is still very much TR.