Thread regarding Thomson Reuters layoffs

Enough with this nonsense from Reuters. F&R subsidized them long enough so they could produce these long self-important essays that the market never asked for and never needed. As someone else mentioned here, it's like having an unwanted house guest and paying for their living expenses for nothing in return.

Now that F&R is gone, it's time for TR to make sure that Reuters starts paying their own rent.

Reuters financial news probably went to the dogs because they have a bunch of overpaid editors who have never even read a financial statement in their lives

Get rid of Reuters union and it could maybe be profitable. That is why Adler cannot run a business only editors - he has no business sense.

“Reuter’s is fine” says the TR plant.

Interesting that Legal would be shopped around to the big 4 and not the actual TRTA business, or perhaps that is next? Then as I wrote in another reply here, end game for TR.

"The Big Four employ more J.D.s than the AmLaw 100." - Jim Smith, with Brian Peccarelli, at Eagan Town Hall, September 2018.

Thomson Reuters Legal (TRL) is now being prepared for sale to one of the Big Four accounting firms (perhaps PwC) in the year 2020. That is why Susan Taylor was, without explanation, removed after the sale of controlling interest in F&R to Blackstone was announced, and Brian Peccarelli (a JD and CPA) was brought in to replace Taylor. The sale of TRL will coincide with the conclusion of Rick King's Scale 2020 program, which has been steadily & quietly consolidating technology resources throughout TRL since 2013.

TRL's July 2018 release of Westlaw Edge, little more than a much-hyped hastily cobbled-together skin on top of WestlawNext, is intended to produce the appearance of new sales & organic revenue growth for prospective TRL buyers and analysts and to distract from the fact that growth at TRL has, in fact, been essentially flat post-recession.

Right. That makes sense. No way BS would throw $300+M a yr on a mediocre product while literally laying off hundreds to achieve less savings!

Reuters is indeed dead. I would guarantee that 30 yr deal is riddled with loopholes in BS favor. The Thomson Family and BS concocted the 30 yr deal to extract the F&R business and circumvent the "15% rule" that the Thomson Family pledged to uphold when they bought Reuters. BS will start bringing in other cheaper news sources more and more into Elektron, then they will go back and to TR and renegotiate the terms of the Reuters deal and pay a lot less than the current $350M. The Thomson family is stuck with the money losing Reuters forever just like an unwanted house guest sleeping on your couch.

Anyone has idea why BS would throw $300M a year on Reuters News?

Reuters is a dead duck. Zero need for it

Well Reuters equity + financial news coverage is way behind competitors like Bloomberg and niche players, if not even bordering on irrelevant. I've never understood why these journalists would insist on doing super long, editorialized articles when what the market needs are real scoops.

Good post. Thank you for the link also

Reuters is fine, always has been. Blackstone will monetize the news (think microseconds) and make billions (no PE firm would sign a 30-yr deal otherwise). Keep doing what you’re doing and avoid embassies in Turkey