Bloomberg announced a reorganization of its Engineering, Data and Product group. In a memo Vlad Kliatchko said the goal was: * Creating new organizational units explicitly responsible for providing internal services and systems to the vertically- aligned parts of our organization; * Shifting responsibilities that were not related to an organizational unit’s core mission to reduce distractions; and * Bringing together teams that are scattered across the organization but belong together. The changes would leave these groups reporting to him: Data Products- Tony McManus Enterprise Products- Ben Macdonald Terminal Products- Mark Flatman The memo ended with this: At a time when many companies are retrenching, I’m excited to be part of an organization that is continuing to make long- term investments. In fact, Mike has approved adding over 1,000 new employees across the company in 2023, many in PDE. He’s enthusiastic about the plan, our team and our work. Thank you for your inspiring creativity and dedication to our mission. Working together, and with this strong investment, we can achieve even greater success moving forward. Vlad #bloomberg
Bloomberg prints money like it’s going out of style.
what is PDE?
Product, Data & Engineering.
reorg = layoffs?
Sometimes reorg is not layoffs but if situation worsen then layoffs are inevitable
We’re still trying to get enough headcounts
Great that you’re getting 1000 headcount