Thread regarding Refinitiv layoffs

"I was once with the Head of Sales, and the Head of Client Specialists for my region. I don't remember why, but the head of sales asked the head of cs how many stocks were in the DJIA. She guessed 35. This is an executive responsible for over a hundred client facing professionals in a fintech firm."

Lol. We have Sales people that don't understand the implications of MiFID II for their Sales process or can't distinguish constituents data from index level data permissioning.. and yes - they are not made redundant. Instead we are bleeding people that got their CFA. Makes sense.

I kind of remember TR doing this deal 3 or 4 years ago. Or a similar deal, in which this collaboration was discussed.

Are they blowing the trumpets over re-signing an existing deal on Refinitiv paper? In that case, look for more great news with every renewal!

I wouldn't put it past that leadership team...

Fake deal only for the news and marketing.

We have truckloads of data but lack the means to effectively get it to those who need it. i see internal products consuming 3rd party data, the same as what we have, only because the 3rd party can deliver "now". In-house will take a year - if - they can find budget for new headcount - that must be hired and trained - and that, hopfully, can do something before they leave or are made redundant.

Well, OP, wonder no more! Because TR has been selling financial data to MSFT for quite a while, yet there have been layoffs all along. This isn't going to move the needle.

Also, I ask: when was the last time you opened PPT or Excel or Word to check the financial markets? I thought so. The market synergies of deals like this are always overblown. There was a time when TR was going to leverage Learning, IP & Science, Healthcare, Legal and Financial to cross market everything to everyone! Oh, Happy Day! Except they never pulled it off. Even though the lack of cooperative business case prioritization between the SBUs would be enough to (and did) doom many of those "cross pollinating" initiatives, the fact is, the customers were lukewarm to the idea. No tax accountant has a pressing need for M&A League Tables, or Patent Search, or D--g Interaction Tables, on a daily basis. It was overkill to 95% of the collective customer base. Hence: Learning, gone. Healthcare, gone. F&R, gone.

Refinativ should slowly pare off niche parts of the business too. Sell the CM&A business to Factset or S&P. Sell FxAll & Tradeweb to the consortium of banks that use them. Sell what's left of Lipper to Broadridge or ADP. Move forward with a lean desktop and feeds platform with reliable trade-through capability that can compete on price with BBG. And get rid of all the high level professional meeting attendees who don't contribute, of which there are still plenty. For example:

I was once with the Head of Sales, and the Head of Client Specialists for my region. I don't remember why, but the head of sales asked the head of cs how many stocks were in the DJIA. She guessed 35. This is an executive responsible for over a hundred client facing professionals in a fintech firm.

Nothing new really. Where do you think Yahoo Finance have been getting their data from for all these years? Did that save the company? Result in a lots of new deals??? Get real... What's sad is that Yahoo Finance (and now probably Microsoft too) are more widely quoted for the source of this "free data" then TR/Refinitiv who supply it. Yahoo did with our content what we have been unable to do on our own site... Make the "free data" accessible in a manner people want to consume it (just have to look at the referrals in internet forums if proof is required). And now we're pretending this MS deal is something new and/or special and/or result in something big... It won't... We need to deliver products that customers want and confirming that's what we did, holding the delivery team (leaders, ProdMan etc) accountable for it including the revenue that it generates rather than a PPT about how it will be fully delivered in the 2025 roadmap... Delivering half baked implementations (due to lack of investment) which barely does what it's supposed to and than ticking our own boxes and patting ourselves on the back is the culture today in Refinitiv.

*from

Agree. Support for Redmond may be useful in terms of Cloud.

Nevertheless Refinitiv needs deals like this more than ever to keep itself on the surface. Shenanigans with brand will hit us.