Cost Reduction
Client: Thomson Reuters
Project: Post integration Cost Reduction
Commercial Imperative:
CPA was appointed to fulfill the role VP Real Estate and Facilities EMEA until such time as a permanent candidate could be appointed. During this interim period Thomson and Reuters merged, challenging the property teams to deliver large scale integration savings across EMEA.
CPA Role:
After fulfilling the EMEA role for 6 months and transitioning activities to the permanent appointment, CPA was retained to project manage the delivery of the business integration following merger, involving substantial office relocation and consolidation.
The Result:
The engagement resulted in the ultimate relocation of 6.500 staff in 20 cities and the closure of 25 offices throughout EMEA, including Frankfurt, Brussels, Warsaw, Johannesburg and Paris. Annualised savings of £27m per annum have been achieved and property integration is actively supporting cultural integration.