Thread regarding Thomson Reuters layoffs

Amazing how many satellite offices

Until reading this site, I never knew how many small offices TR (er r----dative) has/had. Truly amazing and sort of bad when you think about that from a cost model perspective (which leads us to this sad point).

What on earth are all these small sites doing and why cant they be (or couldnt they habe been) consolidated?

From my experience at TR these offices opened either A) due to an aquisition that never integrated or B) to enhance the work life balance and commute for workers (and also because TR has main offices in high cost hard to get to cities like NYC and London). None of these reasons lead directly to higher growth or lower cost, so I expect them to be aggressively closed

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| 2745 views | | 12 replies (last October 30, 2018) | Reply
Post ID: @OP+VMFQ0c1

12 replies (most recent on top)

But better only between noon and lunch time!

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Post ID: @7ldm+VMFQ0c1

Why not? It will make it easier to ignore complaints about bad software releases if we only answer the phone when the NYC office has opened for business.

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Post ID: @6lqq+VMFQ0c1

Why don't we serve the clients from just one office?

https://en.wikipedia.org/wiki/View_of_the_World_from_9th_Avenue

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Post ID: @6zzh+VMFQ0c1

Why don't we serve clients from just one office?

https://en.wikipedia.org/wiki/View_of_the_World_from_9th_Avenue

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Post ID: @6zpw+VMFQ0c1

Well, TR products need to be sold and maintained, mate, thats why there have to be small sales teams and also jurnalists covering local news.

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Post ID: @2mpt+VMFQ0c1

So when Refinitiv are looking to exit high cost locations, BBG invest what is purported to be $1bn in a new EMEA HQ slap bang in the City of London!?

The issue however is not so much real estate but the complex legal entity structure it operated for tax purposes.

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Post ID: @1fmt+VMFQ0c1

Sure commuting to nyc is easy. Drive to a bus or train, which is late or canceled half the time, get off, get a subway, which is hot crowded and smelly, get off, and walk. 2 hours and you are in the office, frazzeled.

Easy

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Post ID: @wov+VMFQ0c1

Eh what? Communting to nyc is hard

Commuting to NYC isn't hard at all. It's just expensive, especially if you live in the 'burbs.

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Post ID: @aqp+VMFQ0c1

Well I can't speak for NYC but commuting in London is very easy.

Capisco?

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Post ID: @qgh+VMFQ0c1

Eh what? Communting to nyc is hard

Comprende?

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Post ID: @jec+VMFQ0c1

"hard to get to cities like NYC and London"

Eh?

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Post ID: @zfo+VMFQ0c1

Reuters had a very diverse footprint in EMEA in particular because we served the clients locally. You have to remember that products and installations required a lot more locally installed kit as well. So you need someone to manage the imports, customs, installations etc. This has now lessened and a lot of the small, far flung offices were already shut down 8 years ago.

Then there's all the local legislation around contracting entities, taxation etc which required setting up of offices in country. It's not that easy doing business in 100 countries!

On the Amers side, I think it was more Thomson and acquisition driven. I'm still learning about new offices there! Definitely would think that consolidation is an option there.

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Post ID: @gvj+VMFQ0c1

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