Rumour has it small tech teams will be laid off shortly and large teams transfered to third party vendors.
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This has been going for a while and without much publicity.
Just google Tech Mahindra, Tata, Epam, IBM, infosys and TR "strategic partnership"
The way it goes: one of the above firms wins the bid (last news were TM and TATA), then TR does a stealth layoff of the affected teams. That goes w/o much noise. The people are "transferred" to the outsourcing partner with short term contract to train their replacements. It never makes the news.. Last October about 500 folks were "transferred" to Tech Mahindra as wave 2... before that, it was wave 1.. I would imagine that Refinitiv will continue on the same path with more enthusiasm.. But you won't hear the word "layoff" like this time (this is done for junk bond investors). Next time it will be strategic partnership with XYZ firm that will try to outsource remaining jobs to low cost centers.
Been through it before. Smaller tech teams might take a while, especially if they're highly specialized in certain products or procedures and can't simply be turned over to another team cold. Usually those teams will get several months notice and a more generous severance package that includes a stay-on bonus to train their replacements. Believe some folks in Wrexham are in this situation right now.
What is your source? Stop spreading rumours. We're interested in facts.