In Blackstone speak, Refinitiv means "layoffs".
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Some of the best and brightest brains in Refinitiv have been let go. The ones who know how everything is plumbed together and how to make it work. The guys at the top, who know little and are worth less, are safe and the guys at the very bottom, who are worth everything, have skill, but lack experience (at the moment) are looking around for work elsewhere. Moral is rock bottom - the Christmas party has been canned - and the skilled programmers are told that their skills are cheap and they can be replaced with coders from Asia.
The ship is sinking, and the accountants and venture capitalists are to blame.