Move away from layoffs to something that might actually result in some positive changes down the line?
I'm tired of the same old thing done over and over again without any results. It doesn't take a genius to see something needs to change.
Although, I don't think anybody ever accused Refinitiv leadership of being geniuses.
Think about this, on average there's been a restructure every 2 years or perhaps less. Each time the most recent joiners with fresh ideas and current market experience are shown the door and the same people who have been there long term remain and create the strategy for the next phase.
I think that shows where the problem lies. It is human nature to protect ones self but terrible for the business.
The business model does not allow for any change to the present mode of operations and capex. The model is simple : the owners decide how much free cash flow they want to withdraw from the company every quarter without a resultant adverse reaction to the stock price. To keep the stock price from suffering, redundancies are calculated so as to reduce expenses enough to maintian prifitability. The stock market is happy, the owners are happy, and the company continues to cannabalize itself.
If the ownership of the company took a pledge not to remove any cash for a year, and instead committed itself to half a dozen initiatives that are certain to improve market share, a year from now this company would either have a much brighter fututre or a lot of new senior managers.
Either way, then the stock market would have a legitimate reason to support this stock.
@Z5YMk5C-7msq also, consider the messenger. Bit of a pillock.
@Z5YMk5C-7msq over a half of KYC employees left the company themselves, so now they don't have to fire anyone - at least for now. I guess that by July the entire KYC departament will be empty.
Strategy was to scare KYC departament, when frossel came to Gdynia and said 50 positons will be fired.
It turned out no one from KYC is fired, but other departaments instead. In my opinon its extremely bad and pathetic to Say that kind of things and then "no, Just kiddin man". I really hope this comoany will fail, flooded with sh-- produced in india.
It will never happen with this management team. Even if a new management team was brought on board the level of cultural and organizational change needed is staggering and most likely not achievable.
“If you want to be the technical leader... your leaders need to be technical.”
No.
Imho current strategy is quite simple.
Get rid of all "unnecessary" staff and delegate all possible work to India.
Proudly announce profits
Sell the respectable departments/database/product
Collect the bounty and reallocate your fat arse to another S&P 500 enterprise.