We'll know more in November

Seems like the new corporate organization foresee the move of support functions (help desk and customer admin) to “cheaper” locations. So not only FTE but also contractors working in those depts - 30% in CustAdmin - will be affected. We will know more when the plan will be laid out on Nov 6th. Between Nov 12th and 16th our colleagues will be called to 121 meetings when their fate will be announced. It seems that some of us will be needed for a longer period to ensure a smooth transition to our colleagues who will take over our accounts.

Made into a thread from @VEjuOo3-1pth for info.

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They haven’t closed only Geneva, they closed the other very cheap help desk locations! Gydnia , Nicosia and Buenos Aires

Pay peanuts you get monkeys

Highly trained staff in Wrexham cost a very cheap £16000. Good staff in Gdynia cost £9000. Abysmal staff in Bangalore to replace the staff in Wrexham £6000.

Refinitiv have done the sums!

Bizarrely, it seems much of middle and upper management on their inflated salarys and generous packages and pensions seem to have escaped unscathed.

Go figure!

I must agree , the only reason to have a staff footprint in Switzerland for roles that could be done elsewhere, would be for tax reasons.

I'm not a fan of retrenchments, and feel very sorry for anyone affected. But in no way does it make sense to do help desk or tier 1 support out of a location as expensive as Geneva. You can get 6 to 8 people in a lower cost jurisdiction for the cost of one person in Geneva. And, no, they won't be 6 times better.

"cheaper" is Gdynia or even "cheaper cheaper"?

Forgot to say, this is referring to Geneva!

Thread regarding Refinitiv layoffs

We'll know more in November

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