This nightmare is not gonna end soon.
https://www.bloomberg.com/news/articles/2018-12-04/thomson-reuters-confirms-about-3-200-job-cuts-by-2020
20 replies (most recent on top)
@zun
It's not 90% of staff informed about the job cuts. It's staff have been informed of 90% of real estate cuts.
Jesus, Reuters, get your facts straight.
https://www.nbcnews.com/business/business-news/thomson-reuters-cut-3-200-jobs-next-two-years-n943541
right on
Regardless of whether the 3,200 includes recent cuts or not, fact remains that hundreds or thousands of job cuts await for next 2 years.
Get an exit plan if you don't have it already.
Doing the math, 12% of 27,000 (the number left at TR after the Refinitiv split) is 3,240. So I think the 3,200 number has to include the recent cuts.
agreed , how would anyone know which job to cut in 2 years . those senior management may no longer be there in 2 years
@icy 90% of staff informed of cuts...as in 2,880 people have been informed of the cuts over the next 2 years?? Most people don't even know what's going on and have to rely on the grapevine!
C'mon Reuters, use some common sense, or are you just a stenographer when it comes to TR matters?
was just about to post this
Death by a thousand paper cuts is what we used to call it at ConAgra (my former employer).
I'm so glad that I voluntarily left Thomson Reuters when I did. My manager was a snake who had worked for Thomson Reuters for years and years. From day one, he felt threatened by the fact that I actually worked. This person would often try to pass his responsibilities on to me - usually last minute so that he could accuse me of not fulfilling my responsibilities if I didn't take it on or was late in delivering. Knowing the game, I always delivered. I'm glad to see that he has finally been let go. Karma is a B____!
As an aside, I also worked with many stellar individuals, but they were usually worker bees (like me). Not enough people who actually work in this organization.
I wonder if some of the reduced headcount will come from divesting existing businesses. Any info?
The wording is ambiguous. I read the WSJ and Bloomberg articles and they made no mention of that which makes me think those entities want more clarity. I have a good feeling those cuts did not come yet however. I’d venture to say the Reuters article wants to put a positive spin to it
The Reuter’s story says that 90% of staff have already been informed of the cuts. That makes it sound like the 3200 includes people that were laid off recently?
https://www.reuters.com/article/us-thomsonreuters-jobs/thomson-reuters-to-cut-3200-jobs-in-next-two-years-idUSKBN1O31OL
This is bloomberg’s Front page story this morning
By 2020 I will be of retirement age. My motivation is less than zero.
WsT2IxQ-fct, I am sure the entire upper management who were let go received severance packages...
I am so glad I left TR in mid-September on my own. I was part of the Refinitiv move and know from experiences at my previous company what kind of blood bath would ensue with a split-up/joint venture etc. I am very happy at my new company and don't have any stress as I did at TR. There is life after TR... BTW, my entire upper management reporting chain was let go the first part of October so yay me!
I guess people who got laid off now are lucky one...
I rather be laid off now than in 2020...economy will not be so good then.
How ironic, layoff news regarding TR being reported by their old FR rival.
2020 targets have management layers reduced from 10 to 6, and office locations cut from 185 to 133.