Thread regarding Thomson Reuters layoffs

Expect more layoffs, and not among management

There's probably around 22,500 staff working for TR at present. The company most likely has a predetermined "ideal" staffing level to be achieved over a number of years, assuming they're not going to sell up and go on to something else. Unfortunately, publishing is now regarded as a "sunset" industry. The big question is what is their goal employee target? 17,000-18,000? I can see greater use being made of outsourcing, though how efficient this is, is questionable.

I'd be surprised if they tackle the issue of dead wood management. Where would they start, when there is so much of it? There is also the high severance payout costs associated with dropping lazy and dead wood management.

Originally posted by @ome+184xzHJl.

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| 3722 views | | 6 replies (last December 1, 2020) | Reply
Post ID: @OP+1851dLtj

6 replies (most recent on top)

“If you want to build a high performance organization, you’ve got to play chess, not checkers.”
Mark Miller

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Post ID: @7zzp+1851dLtj

If you can’t measure it, you can’t manage it.

TR is abysmal at actually understanding what their own businesses and processes actually are. They can’t quantify what is actually happening.

Their desire is to move from a “holding company model” to an “operating company model” - that should tell you everything you need to know. They don’t have a grasp on what their own assets, processes, strengths, and weaknesses are.

Even good managers get run roughshod here.

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Post ID: @7hnu+1851dLtj

@4qrd+1851dLtj : I guess the question that should be asked here is how many of the current managers are actually management material?

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Post ID: @5yrh+1851dLtj

I guess you are not management material

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Post ID: @4qrd+1851dLtj

Do you think there will be more layoffs this year or you're talking next year? Unsettling and disappointing especially for low ranked doers while the top management remains unscathed when they're the ones doing more talk than walk.

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Post ID: @1ytb+1851dLtj

This is a excellent example of why TR has lost the plot. Fire those with experience and who know what they're doing and increase the number of managers, many of whom don't know what they're doing and who are being paid six figure salaries. Sounds like a winning formula TR and a sound plan to grow the company organically.

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Post ID: @1zvc+1851dLtj

It was a shock to me in my new role to have a manager that's never actually done my job. She tries to act like maybe she has in the distant past but that's not the case. I believe she has insecurity about it, as she should. Of course she knows the processes–sort of–but when you meet and relate what you're working on you can tell that it just washes over them and then they say "Well, just get your X done in Workday by X date" Evidently these managers are in back-to-back meetings all day but I just can't imagine what they are actually doing that's, you know, productive. They certainly are not the ones pushing innovation and product improvement.

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Post ID: @xic+1851dLtj

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