Thread regarding Refinitiv layoffs

I am going for an interview for a role in the UK.

These negative comments are making me think twice about accepting any job offer I may, or may not, receive.

My current position is under scrutiny re offshoring to India so might as well stay put and take that gamble.

It's only gonna get worse.

@zdlz, thank you for your candor. Best of luck to you, and to everyone still at Refinitiv.

I would avoid this place at least in NYC. People leaving in droves, all tech jobs moving to Bangalore or Bangkok. Rumors of mid year or 3rd quarter layoffs.

Surely they can’t offshore “front office” (client-facing) roles, right? I have several friends who are currently going through the interview process at Refinitiv, and their roles are aligned to sales/biz dev.

Depended on where are you planning to join and what role you are

Product development - best place is in UK or even NYC is still ok in my view although not look promising much as UK

Technology - China, Thailand and India

Sales - I dont know about this at all

Others than above - I have no comment

Regarding the new grading system have they ever needed a reason to dismiss people? The place will cut as it needs to. Don't let the change convince you that anything really has.

Wow, Refinitiv is instituting a new Performance System. I would look somewhere else. This seems like it is going to be a way to get rid of people who perform their jobs perfectly well.

I understand you're confused because if you look at this site leadership is disliked yet many have stayed for years. You might want to consider if you're up to joining a place where people are unhappy and insecure.

Culture is terrible, leadership does not exist, most of staff disengaged or waiting to be fired...pay is not bad, but that's about all this company has going for it right now. Certainly not a place to grow professionally as you will not learn much. Most employees are looking to leave

If you are not trolling and genuinely interested, yes it could be a good time. But only if you are young and can take career risk. You will get an inside view of a zero growth company sustained by a subscription model highly tolerant of mediocre management being shaken up by new owners, not tolerant of the same.

If the new owners gamble correctly, the deadwood (and there is a LOT, not just the complacent executive offices but entire departments that grow like weeds but neither produce, sell or support anything - looking at you, market development, finance, HR, marketing, strategy...) will go or be cut back and the potential will be reaped.

If the gamble fails, not even the subscription model can save it. Too many remaining are depressed by the tone deaf management. Instead of leading from the front in time of change, they've retreated even further back into their comfort zone of internal battles, org charts, spreadsheets and powerpoints. Many doing the actual work are making their own plans. A complete change of leaders, to those with a unifying vision and the abilty to actually inspire and lead would have helped, but it hasn't happened - yet.

Either way, the path is a well worn one for poorly managed companies lost in internal beaurocracy and politics, and you might as well see it early in your career.

Unless you are absolutely desperate, I would steer clear.

This ship is sinking, it's not a matter of if but when it finally goes under

There's absolutely no plan to grow anything. My reasoning:

1. If there was, then BStone would have given some idea by now of what it was. All they have announced is $650m of cost savings.Oh wait - they did mention using their position in the market to persuade their industry partners to switch to Refinitiv from other competitors - well, it's over a year since they announced they were buying F&R and it seems they have failed miserably in this regard.

2. Why would you stick with an ELT that has grown nothing, apart from a few percent here and there due to inflationary price increases? They've spent 5 years achieving next to zero growth - why would they start to achieve now?

3. Seem to be selling off the goodies, so we're eventually we're left with the dog of a desktop business that everyone knew was a strategic dead end 10 years ago. The only way to flip this profitably is to strip costs to the bone - there is no revenue upside here, and no industry player would buy it.

Very interesting question, and I am curios about who and why actually bringing this topic up!

If you live in the UK or US, I would say NO, especially in technical and development roles as trend is that most of those jobs are going be outsourced to Indian companies such as TATA, Tech Mahindra, in the coming years. I would say that even positions in India are not safe...

New company same o game plan, my answer is this. Watch what is happening around you.

Whatever it ends up, it’s like a box of rotten fine chocolate.....you may like the taste but some won’t.