#19 Facebook Terminology, 2020 Report Launch, EU LSPs Struggle, AB5 Hope

Florian and Esther share highlights from the newly-released Slator 2020 Language Industry Market Report. The 55-page report features a wealth of insights and data to help LSPs drive strategy, sales and marketing and enable buyers to assess the vendor landscape. Esther talks about terminology management at scale after Facebook’s Uwe Muegge gave Slator an inside look at how his team is bringing consistency to the tech giant’s marketing terms. They’re using data and analytics, automation, and a robust terminology management process to soon bring the Facebook Marketing Dictionary onstream.Esther picks out a number of takeaways from the “European Language Industry Survey 2020, Before and After Covid-19,” run by the EU ATC and other industry bodies. WIth many freelancers saying they only have 1-3 months’ runway without additional support, she shares insights from the survey around how freelancers and LSPs are responding to the crisis. Over in California, freelancers are dealing with the one, two punch of AB5 and coronavirus, and Florian unpacks the current state of affairs in the US state, pointing to one small glimmer of hope in the form of a new bill hoped to lessen the fallout. Hopping across to New Zealand, Florian discusses LSP Straker’s recent financial results for the three months to March 2020, as the company paused M&A and noted “early signs of slower decision making” from customers as a result of the outbreak. Florian concludes with a quick update from the life sciences sector, where a number of industry insiders are saying that many clinical study sites are shut amid the lockdown. Pent up demand may release in H2 when lockdowns are eased, but there’s an immediate slowdown in clinical trial-related work, likely to impact on CROs and LSPs.Links to the stories discussed in this episode:Slator 2020 Language Industry Market Reporthttps://slator.com/data-research/slator-2020-language-industry-market-report/How Facebook Scaled Terminology Managementhttps://slator.com/industry-news/survey-reveals-impact-of-covid-19-on-europes-language-industry/Survey Reveals Impact of Covid-19 on Europe’s Language Industryhttps://slator.com/features/how-facebook-scaled-terminology-management/New Bill Aims to Lessen Fallout From AB5-Coronavirus One-Two Punchhttps://slator.com/industry-news/new-bill-aims-to-lessen-fallout-from-ab5-coronavirus-one-two-punch/Straker Posts Q4 FY 2020 Earnings, Puts M&A on Holdhttps://slator.com/financial-results/straker-posts-q4-fy-2020-earnings-puts-ma-on-hold/